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Proposal Text
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Shall the County of Kalamazoo, State of Michigan, borrow the principal sum of not to exceed $91,500,000 and issue its unlimited tax general obligation bonds therefore in one or more series for the purpose of paying the cost of acquiring, remediating, renovating, erecting, furnishing and equipping new County Justice Facilities consisting of a new County Juvenile Home, renovation of, and an addition to, the County Jail, and the site(s) thereof together with all necessary appurtenances and attachments? the estimated mills to be levied in 2005 is 0.0440 mills ($0.0440 per $1,000 taxable value). The estimated average millage rate required to reture the bonds is 0.4859 mills ($0.4859 per $1,000 of taxable value). The maximum number of years any series of bonds may be outstanding is 25 years, exclusive of any refunding.
This proposal will be a new additional millage. For the purpose of providing additional personnel and other operational cost for an addition to the County Jail, and implementation of Preventative and Rehabilitative Correctional Programs, shall the limitation on the amount of taxes which may be imposed on taxable property in Kalamazoo County be increased by 1.5000 mills, being 1 dollar and 50.00 cents ($1.50) per thousand dollars ($1,000) of taxable value on all taxable property in Kalamazoo County for a period of twenty (20) years, being 2006 to 2025, inclusive? It is intended to levy 0.1978 mills (0.1978 per $1,000 of taxable value) in the year 2006 increasing to a maximum of 1.5000 mills ($1.50 dollars per $1,000 of taxable value) in the year 2012. It is estimated that 0.1978 mills would raise approximately $1,403,900 when first levied in the year 2006, and that 1.5000 mills would raise approximately $13,472,032 when levied in the year 2012.
Shall Galesburg-Augusta Community Schools, Kalamazoo County, Michigan, borrow the sum of not to exceed Twelve Million Eight Hundred Eighty Thousand Dollars ($12,880,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of: Erecting, furnishing and equipping auditorium and gymnasium additions to the high school; acquiring and installing educational technology improvements; partially remodeling anf re-equipping school buildings; and developing and improving playfields, athletic fields and facilities and the high school site? The following is for information purposes only: The estimated millage that will be levied for the proposed bonds in 2005, under current law, is -0- mill ($0.00 on each $1,000 of taxable valuation). The maximum number of eyars the bonds may be outstanding, exclusive of any refunding will not exceed twenty-five (25) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.49 mills ($2.49 on each $1,000 of taxable valuation). The total debt levy to be made in December 2005 will continue at 7.00 mills ($7.00 on each $1,000 of taxable valuation). (Pursuant to State law, expenditure of bond proceeds must be audited, and the proceeds cannot be used for repair or maintenance costs, teacher, administrator or employee salaried, or other operating expenses.)
This proposal will allow the school district to levy the statutory rate of 18 mills on all property execept 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 agricultural property as defined by law, in Otsego Public Schools, Allegan, Kalamazoo and Van Buren Counties, Michigan, be increased by 18 mills ($18.00 on each $1,000.00 of taxable valuation) for a period of 10 years, from 2005 to 2014, inclusive, ro provide funds for operating purposes (17.7170 mills fo the above is a restoration of millage which expired with the 2004 tax levy and .2830 mill is a restoration of millage lost as a result of the reduction required by the Michigan Constitution of 1963); 'the estimate of the revenue the school district will collect if the millage is approved and levied in 2005 is approximately $2,450,000?
