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Proposal Text
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Shall Cassopolis Public Schools, Cass County, Michigan, borrow the sum of not to exceed Twenty-Nine Million Five Hundred Thousand Dollars ($29,500,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: remodeling, refurnishing and re-equipping the Ross Beatty Building; erecting, furnishing and equipping a new PreK-8th grade building; acquiring and installing educational technology improvements; and developing and improving sites, playgrounds, outdoor physical education and athletic fields and facilities? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2007, under current law, is 4.41 mills ($4.41 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 5.17 mills ($5.17 on each $1,000 of taxable valuation). If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State. (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 salaries, or other operating expenses.)
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, qualified agricultural property and qualified forest 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, qualified agricultural property and qualified forest property as defined by law, in Dowagiac Union School District, Cass, Van Buren and Berrien Counties, Michigan, be increased by 18 mills ($18.00 on each $1,000.00 of taxable valuation) for the year 2007, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2007 is approximately $4,172,000 (this is a renewal of millage which expired with the 2006 tax levy)?
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, qualified agricultural property and qualified forest 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, qualified agricultural property and qualified forest property as defined by law, in Edwardsburg Public Schools, Cass County, Michigan, be increased by 18 mills ($18.00 on each $1,000.00 of taxable valuation) for the year 2007, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2007 is approximately $1,623,340 (this is a renewal of millage which expired with the 2006 tax levy)?
Shall Brandywine Community Schools, Berrien and Cass Counties, Michigan, borrow the sum of not to exceed Five Million Seven Hundred Fifty Thousand Dollars ($5,750,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; erecting, furnishing and equipping additions to the elementary school; acquiring, installing and equipping technology for school facilities; constructing, equipping, developing and improving physical education/athletic facilities; and developing and improving sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2007, under current law is 1.02 mills ($1.02 on each $1,000 of taxable valuation) for a -0- net millage increase. The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed twenty-one (21) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.27 mills ($1.27 on each $1,000 of taxable valuation). If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State. (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 salaries, or other operating expenses.)
Shall Niles Community Schools, Berrien and Cass Counties, Michigan, borrow the sum of not to exceed Thirty-Seven Million One Hundred Sixty-Five Thousand Dollars ($37,165,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing and equipping additions to Northside, Ballard and Howard Elementary Schools; remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; acquiring, installing and equipping technology for school facilities; constructing, equipping and improving playgrounds and physical education/athletic facilities and fields; and developing and improving sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2007, under current law, is 3.74 mills ($3.74 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.07 mills ($3.07 on each $1,000 of taxable valuation). If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State. (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 salaries, or other operating expenses.)
Shall Niles Community Schools, Berrien and Cass Counties, Michigan, borrow the sum of not to exceed Two Million Three Hundred Seventy Thousand Dollars ($2,370,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: partially remodeling, furnishing and refurnishing, equipping and re-equipping Eastside School for education and administration purposes; acquiring, installing and equipping technology for Eastside School; and developing and improving the site? The following is for informational purposes only: The projects in Proposal II are contingent upon the passage of Proposal I. The estimated millage that will be levied for the proposed bonds in 2007, under current law, is .24 mill ($0.24 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is .20 mill ($0.20 on each $1,000 of taxable valuation). If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State. (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 salaries, or other operating expenses.)
Shall White Pigeon Community Schools, St. Joseph and Cass Counties, Michigan, borrow the sum of not to exceed Sixteen Million Nine Hundred Thousand Dollars ($16,900,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: partially remodeling, furnishing and refurnishing, equipping and re-equipping Central Elementary School and the Middle School/High School; erecting furnishing and equipping additions to, and constructing and equipping a playground for Central Elementary School; acquiring, installing and equipping technology for school facilities; and developing and improving sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2007, under current law, is 3.85 mills ($3.85 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.86 mills ($2.86 on each $1,000 of taxable valuation). If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State. (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 employees salaries, or other operating expenses.)
