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Proposal Text
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This millage will allow the school district to continue to levy not more than the statutory rate of 18 mills against non-principal residence and non-qualified agricultural property required for the school district to receive its revenue per pupil foundation guarantee. Shall the limitation on the amount of taxes which may be assessed against all taxable property, excepting therefrom principal residence and qualified agricultural property as defined by law, in Big Jackson School District be increased by 19 mills for a period of 10 years, from 2009 to 2018, both inclusive to provide for operating funds? The estimated revenue the school district will collect if the millage is approved is approximately $190,160 in the first year it is levied. The proposed millage is a renewal of a previously authorized millage of 17.1769 mills and authorization of a new additional millage of 1.8231 mills.
Shall the Fremont Public Schools, Counties of Newaygo, Muskegon and Oceana, State of Michigan, borrow the sum of not to exceed Thirty-Nine Million Nine Hundred Thousand ($39,900,000) Dollars and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of paying for the cost of the following: *Erecting, equipping and furnishing a new high school building and other facilities at the site for the new high school building; *Acquiring, preparing, developing and improving a site for a new high school building and other facilities; and *Acquiring and installing technology and technology equipment at a new high school building? The estimated 2009 debt levy required to pay for the proposed bonds and the School District's currently outstanding bonds will total 7 mills ($7.00 per $1,000 of taxable value) which is an estimated increase of 3.6 mills ($3.60 per $1,000 of taxable value) over the 2008 debt levy. The estimated millage that will be levied to pay only the proposed bonds in the first year is 4.15 mills ($4.15 per $1,000 of taxable value). The maximum number of years the proposed bonds may be outstanding, exclusive of refunding, is not more than thirty (30) years; and the estimated simple average annual millage that will be required to retire only the proposed bonds over thirty (30) years is 4.04 mills annually ($4.04 per $1,000 of taxable value). If approved by the voters the bonds will be guaranteed by the State of Michigan under Section 16 of Article IX of the State Constitution of 1963, as amended. If the School District borrows from the State of Michigan to pay debt service on the bonds under the State of Michigan's guarantee the School District may be required to levy debt mills beyond the term of the bonds to repay the State of Michigan. (Pursuant to State law, expenditure of bond proceeds must be audited, and the proceeds cannot be used for teacher, administrator or employee salaries, repair or maintenance costs or other operating expenses.)
Shall the Fremont Public Schools, Counties of Newaygo, Muskegon and Oceana, State of Michigan, borrow the sum of not to exceed Three Million Nine Hundred Seventy-Five Thousand ($3,975,000) Dollars and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of paying for the cost of the following: *Acquiring and installing technology and technology equipment in school buildings, including related infrastructure improvements? The estimated millage that will be levied to pay the proposed bonds in the first year is 0 mills (which is equal to $0 per $1,000 of taxable value). The maximum number of years the bonds may be outstanding, exclusive of refunding, is not more than eleven (11) years; and the estimated simple average annual millage that will be required to retire the bonds over eleven (11) years is 0.44 mills annually ($0.44 per $1,000 of taxable value). If Bond Proposition 2 is combined with Bond Proposition 1, the estimated 2009 debt levy required to pay for the combined proposed bonds and the School District's currently outstanding bonds will total 7 mills ($7.00 per $1,000 of taxable value) which is an estimated increase of 3.6 mills ($3.60 per $1,000 of taxable value) over the 2008 debt levy. The estimated millage that will be levied to pay only the combined proposed bonds in the first year is 4.15 mills ($4.15 per $1,000 of taxable value). The maximum number of years the combined proposed bonds may be outstanding, exclusive of refunding, is not more than thirty (30) years; and the estimated simple average millage that will be required to retire only the combined proposed bonds over thirty (30) years is 4.48 mills annually ($4.48 per $1,000 of taxable value). If approved by the voters the bonds will be guaranteed by the State of Michigan under Section 16 of Article IX of the State Constitution of 1963, as amended. If the School District borrows from the State of Michigan to pay debt service on the bonds under the State of Michigan's guarantee the School District may be required to levy debt mills beyond the term of the bonds to repay the State of Michigan. (Pursuant to State law, expenditure of bond proceeds must be audited, and the proceeds cannot be used for teacher, administrator or employee salaries, repair or maintenance costs or other operating expenses.)
This proposal will allow the school district to continue to levy the statutory rate of 18 mills on all property, except principal residence and other property exempted by law, 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, except principal residence and other property exempted by law, in Grant Public Schools, Newaygo, Kent and Muskegon Counties, Michigan, be increased by 18 mills ($18.00 on each $1,000 of taxable valuation) for the year 2009, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2009 is approximately $905,443 (this is a renewal of millage which expired with the 2008 tax levy)?
This proposal will allow the school district to continue to levy the statutory rate of 18 mills on all property, except principal residence and other property exempted by law, 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, except principal residence and other property exempted by law, in Newaygo Public School District, Newaygo County, Michigan, be increased by 18 mills ($18.00 on each $1,000 of taxable valuation) for the year 2009, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2009 is approximately $2,351,317 (this is a renewal of millage which expired with the 2008 tax levy)?
