Proposal Text

Eaton Rapids Public Schools Millage Proposal, Building and Site Sinking Fund Tax Levy -- To support a levy not to exceed 1 mill for a period of 5 years (2016-2020)

Shall the limitation on the amount of taxes which may be assessed against all property in Eaton Rapids Public Schools, Eaton and Ingham Counties, Michigan, be increased by and the board of education be authorized to levy not to exceed 1 mill ($1.00 on each $1,000 of taxable valuation) for a period of 5 years, 2016 to 2020, inclusive, to create a sinking fund for the construction or repair of school buildings and all other purposes authorized by law; the estimate of the revenue the school district will collect if the millage is approved and levied in 2016 is approximately $495,000?

Lansing School Distric Bonding Proposal -- Bonding proposal not to exceed $120,000,000

Shall Lansing School District, Ingham, Eaton and Clinton Counties, Michigan, borrow the sum of not to exceed One Hundred Twenty Million Dollars ($120,000,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of: remodeling, furnishing and refurnishing and equipping and re-equipping school buildings, including security improvements and equipment; erecting, furnishing and equipping additions to school buildings; acquiring and installing instructional technology and instructional technology equipment for school buildings; erecting, developing, improving, furnishing and equipping athletic facilities and fields; and developing and improving playgrounds, play fields, driveways, parking areas and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2016 is 2.25 mills ($2.25 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty-five (25) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.43 mills ($3.43 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 $31,195,000. The total amount of qualified loans currently outstanding is approximately $-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.)