 |
 |
Proposal Text
|
|
Shall Section 14.1, Chapter XIV, of the Charter of the City of Kentwood be amended to prohibit persons who have been convicted of a felony from being qualified to serve in elective office in the City?
Shall the City of Lowell, Kent County, Michigan, levy a renewal special ad valorem property tax of .25 of one mill annually (which is equal to $.25 per $1,000 of taxable value) on the taxable value of all real and personal property subject to taxation for a ten-year period commencing July 1, 2013, through June 30, 2023, for the purpose of operating and maintaining the Lowell Area Historic Museum? The amount raised by such renewal levy in the first year at the current taxable value is estimated at $27,677.33 (an estimated $23, 774.50 would be used for museum operations and maintenance and an estimated $3,902.83 would be disbursed to the City's Downtown Development Authority for its use).
Shall Byron Center Public Schools, Kent County, Michigan, borrow the sum of not to exceed Twenty-Three Million Six Hundred Thousand Dollars ($23,600,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing and equipping additions to, and partially remodeling, refurnishing and re-equipping school district buildings; acquiring and installing educational technology improvements; purchasing school buses; and developing and improving playgrounds and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is -0- mills ($0.00 on each $1,000 of taxable valuation). The maximum numbers of years the bonds may be outstanding, exclusive of any refunding, is twenty-two (22) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.05 mills ($2.05 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 Northview Public Schools, Kent County, Michigan, borrow the sum of not to exceed Thirty-One Million Six Hundred Ten Thousand Dollars ($31,610,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting additions to school buildings; remodeling, equipping and re-equipping and furnishing and refurnishing school buildings; acquiring, installing, equipping and re-equipping school buildings for instructional technology; and developing and improving playgrounds and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is 3.30 mills ($3.30 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.67 mills ($3.67 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 Northview Public Schools, Kent County, Michigan, borrow the sum of not to exceed Eleven Million Nine Hundred Ten Thousand Dollars ($11,910,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting additions to the high school; remodeling, equipping and re-equipping and furnishing and refurnishing the high school; acquiring, installing, equipping and re-equipping the high school for instructional technology; and developing and improving the site? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is 1.22 mills ($1.22 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.41 mills ($1.41 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 the limitation on the amount of taxes which may be assessed against all property within the school district of Grand Rapids Public Schools, Kent County, Michigan, be increased by and the board of education be authorized to levy a new additional millage of not to exceed 1.0 mills ($1.00 per $1,000 of taxable valuation) to create a sinking fund to be used for the construction or repair of school buildings and other purposes authorized by law, for a period of five (5) years, 2012 through 2016, inclusive (estimated to provide revenues of approximately $4,305,000 in 2012)? The following is for informational purposes: There are local authorities in the school district that capture and retain for authorized purposes tax increment revenues from property taxes levied by the school district. Such capture would include a portion of this millage levy. The total amount of captured tax increment revenues from such millage in the first calendar year of the levy is estimated to be $410,000. The following local tax increment authorities in the school district presently capture a portion of the school district's property tax levy: the Grand Rapids Downtown Development Authority, the Grand Rapids Brownfield Authority, and the Grand Rapids SmartZone Local Development Finance Authority.
