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Proposal Text
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Shall Dowagiac Union School District, Cass, Van Buren and Berrien Counties, Michigan, borrow the sum of not to exceed Twenty-Seven Million Dollars ($27,000,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: remodeling, equipping and re-equipping and furnishing and refurnishing school buildings; erecting, furnishing and equipping a handicap accessible toilet addition to the high school; acquiring, installing, equipping and re-equipping school buildings for instructional technology; and acquiring, preparing, developing and improving athletic facilities and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2016, under current law, is 2.50 mills ($2.50 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty-six (26) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.70 mills ($2.70 on each $1,000 of taxable valuation). The school district does not expect to borrow from the State to pay debt service on the bonds. The total amount of qualified bonds currently outstanding is $17,495,000. The total amount of qualified loans currently outstanding is $0. The estimated computed millage rate may change based on changes in certain circumstances. (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 Dowagiac Union School District, Cass, Van Buren and Berrien Counties, Michigan, borrow the sum of not to exceed Ten Million Two Hundred Thousand Dollars ($10,200,000) and issue it general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing and equipping a gymnasium addition to the high school; remodeling, equipping and re-equipping and furnishing and refurnishing school buildings; acquiring, installing, equipping and re-equipping school buildings for instructional technology; erecting athletic facilities; and preparing, developing and improving sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2016, under current law, is 1.00 mill ($1.00 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding , exclusive of any refunding, is twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.26 mills ($1.26 on each $1,000 of taxable valuation). The school district does not expect to borrow from the State to pay debt service on the bonds. The total amount of qualified bonds currently outstanding is $17,495,000. The total amount of qualified loans currently outstanding is $0. The estimated computed millage rate may change based on changes in certain circumstances. (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.)
A PROPOSAL FOR INCREASING FUNDS NEEDED TO IMPROVE ONTWA TOWNSHIP’S AND EDWARDSBURG’S PUBLIC SAFETY. This proposed millage increase would provide funds needed for hiring two more policemen to improve police emergency response time and visibility, public protection, and case follow-up. The funds will also provide the capital costs for purchasing land and building a new police department. For the next four (4) years, 2016-2019, the millage would be increased by one (1) mill on each dollar ($1.00) of each $1,000.00 of the assessed, taxable valuation on all real and tangible personal property in Ontwa Township, Cass County, Michigan. The total estimated amount of revenue to be generated for the 2016 calendar year will be approximately $221,141.00. For calendar years 2020 and 2021, the Township millage would be lowered to .6 mills (.60˘ on each $1,000.00 of the taxable valuation on such property). The total estimated revenue to be generated for the 2020 calendar year will be approximately $132,690. After six years, this millage increase would expire by its own terms on December 1st, 2021. Shall the Township adopt this proposal?
