Proposal Text

Comstock Public Schools Bond Proposal -- Bond Proposal

Shall the Comstock Public Schools, County of Kalamazoo, Michigan, borrow the principal sum of not to exceed Forty-Nine Million Nine Hundred Thousand Dollars ($49,900,000) and issue its general obligation unlimited tax bonds for the purposes of defraying the cost of: *erecting, furnishing and equipping additions to existing School District Buildings; * remodeling, equipping, furnishing, reequipping and refurnishing existing School District Buildings, including safety and security improvements; * acquiring and installing technology equipment and infrastructure in and connecting School District buildings; and *improving and developing sites, inclusing playgrounds, outdoor athletic fields, facilities and structures in the School District? the estimated millage to be levied in 2006 to service this issue of bonds is 6.39 mills ($6.39 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds of this issue is 5.57 mills ($5.57 per $1,000 of taxable value). The bonds may be payable in not to exceed 26 years from the date of issue.