Proposal Text

Homer Village Millage Proposal -- Restore Headlee Amendment

Shall Kalamazoo Regional Educational Service Agency, Michigan, borrow the sum of not to exceed Twenty-Five Million Three Hundred Fifty Thousand Dollars ($25,350,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing and equipping a new special education facility; partially remodeling, refurnishing and re-equipping existing 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 2008 is .29 mill ($0.29 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed fourteen (14) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is .28 mill ($0.28 on each $1,000 of taxable valuation).