LOWELL PROPOSITION I -- OPERATING MILLAGE RENEWAL PROPOSAL

This proposal will allow the school district to continue to levy the statutory rate of 18 mills on all property except principal residence and qualified agricultural property required for the school district to receive its revenue per pupil foundation allowance. Shall the limitation on the amount of taxes which may be assessed against all property, exempting therefrom principal residence and qualified agricultural property as defined by law, in Lowell Area Schools, Kent and Ionia Counties, MI, be increased by 16.9751 mills ($16.9751 on each $1,000 of taxable valuation) for a period of 3 years, 2006, 2007 and 2008, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2006 is approximately $2,941,206 (this is a renewal of millage which expired with the 2005 tax levy)?