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Proposal Text
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Shall the expired previous voted additional charter millage ad valorem tax levy of .5 mill ($.50 per $1,000 of taxable value) be renewed for six 96) years from 2010 to 2015 inclusive to be allocated under the provisions of Act No. 39 of the Public Acts of 1976, as amended, to support services for older adults through the Comstock Community Center, which levy will raise in the first year of levy an estimated $257,525?
Shall the authorized charter millage of the Charter Township of Kalamazoo be established at 8.9691 mills ($8.9691 per $1,000 of taxable value) upon taxable real and tangible personal property within the township, such new additional millage to replace previously authorized millage levied at the identical level in 2008 and such millage to be levied at the general operation of the Township and to offset state revenue sharing reductions, which total, if levied will raise in the first year of levy an estimated $4,285,401.90?
Shall the Comstock Public Schools, County of Kalamazoo, Michigan, borrow the principal sum of not to exceed Four Million Four Hundred Fifty Thousand Dollars ($4,450,000) and issue its general obligation unlimited tax bonds for the purpose of defraying the cost of: *acquiring and installing technology and security equipment and infrastructure and associated remodeling improvements; *equipping, furnishing, and re-equipping and refurnishing School District buildings; and *acquiring school buses? the estimated millage to be levied in 2010 to service this issue of bonds is 1.45 mills ($1.45 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds of this issue is 1.45 mills ($1.45 per $1,000 of taxable value). The bonds shall be payable in not to exceed seven (7) years from the date of issue. Under State law, bond proceeds may not be used to pay teacher, administrator or other employee salaries, routine maintenance costs or other School District operating expenses.
Shall the Comstock Public Schools, County of Kalamazoo, Michigan, be authorized to levy 2.50 mills to create a sinking fund for the purpose of the construction or repair of school buildings and the improvement and development of sites and for any other purpose which may be permitted by law, by increasing the limitation on the amount of taxes which may be imposed on taxable property in the School District for a period of seven (7) years, being the years 2012 to 2018, inclusive? It is estimated that 2.50 mills $2.50 per $1,000 of taxable valuation) would raise approximately $1,250,000 in 2012. Under State law, sinking fund proceeds may not be used to pay teacher or administrator salaries.
