Proposal Text

Cassopolis Public Schools Bonding Proposal -- Bonding Proposal

Shall Cassopolis Public Schools, Cass County, Michigan, borrow the sum of not to exceed Three Million Three Hundred Thirty Thousand Dollars ($3,330,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: remodeling, furnishing and refurnishing, equipping and re-equipping, and replacing roofs on school facilities, in part, for building security and energy conservation improvements; acquiring and installing instructional technology in school buildings; and preparing, developing, and improving outdoor athletic facilities? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2015 is 0.75 mill ($0.75 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is ten (10) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 0.85 mill ($0.85 on each $1,000 of taxable valuation). (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.)