 |
 |
Proposal Text
|
|
BELLEVUE COMMUNITY SCHOOLS OPERATING MILLAGE PROPOSAL This proposal will enable Bellevue Community Schools 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 Bellevue Community Schools, Eaton, Barry and Calhoun Counties, Michigan, be increased by 3 mills ($3.00 on each $1,000.00 of taxable valuation) for a period of 8 years, 2007 to 2014, inclusive, to provide funds for operating purposes; if approved, the estimate of the revenue the school district will collect the first year of levy, 2007, is approximately $16,000 (this millage is to restore millage lost as a result of the reduction required by the Michigan Constitution of 1963 and will be levied only to the extent necessary to restore that reduction)?
CHARLOTTE PUBLIC SCHOOLS OPERATING MILLAGE PROPOSAL This proposal will enable Charlotte Public Schools 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 Charlotte Public Schools, Eaton County, Michigan, which will expire with the 2007 tax levy, be increased by 2 mills ($2.00 on each $1,000.00 of taxable valuation) for a period of 5 years, 2008 to 2012, inclusive, to provide funds for operating purposes; if approved, the estimate of the revenue the school district will collect the first year of levy, 2008, is approximately $58,000 (this millage will only be levied to the extent necessary for the district to receive its full revenue per pupil foundation allowance)?
BONDING PROPOSAL #1 Shall Grand Ledge Public Schools, Eaton, Clinton and Ionia Counties, Michigan, borrow the sum of not to exceed Thirty-Four Million Six Hundred Fifty Thousand Dollars ($34,650,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: acquiring, installing and equipping technology for school facilities; erecting, furnishing and equipping additions to and partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; constructing, equipping and improving playgrounds and a storage facility; developing and improving sites; and acquiring school buses? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2007, under current law, is 1.26 mills ($1.26 on each $1,000 of taxable valuation) for a net increase of .97 mill. 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 1.09 mills ($1.09 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.)
II. BONDING PROPOSAL Shall Grand Ledge Public Schools, Eaton, Clinton and Ionia Counties, Michigan, borrow the sum of not to exceed Five Million Five Hundred Fifty-Five Thousand Dollars ($5,555,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: constructing, equipping, re-equipping, developing and improving athletic facilities, practice and play 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 .23 mill ($0.23 on each $1,000 of taxable valuation) for a net increase of .23 mill. 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 .17 mill ($0.17 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.)
POTTERVILLE PUBLIC SCHOOLS MILLAGE PROPOSAL, BUILDING AND SITE SINKING FUND TAX LEVY This proposal renews building and site sinking fund millage that expired with the 2006 tax levy and restores millage lost as a result of the reduction required by the Michigan Constitution of 1963. Shall the limitation on the amount of taxes which may be assessed against all property in Potterville Public Schools, Eaton County, Michigan, be increased by and the board of education be authorized to levy 5 mills ($5.00 on each $1,000.00 of taxable valuation) for a period of 10 years, 2007 to 2016, inclusive, for sinking fund purposes to be used for the purchase of real estate for sites for, and the construction or repair of school buildings and all other purposes authorized by law (4.5137 mills of the above is a renewal of millage for building and site sinking fund purposes which expired with the 2006 tax levy and .4863 mill is to restore millage for the same purpose 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 2007 is approximately $372,323?
