Elections Division
February 23, 2010 Election Proposals
Grass Lake Community Schools
(Grass Lake Community School voters will vote in Jackson County)
GRASS LAKE COMMUNITY SCHOOLS
BONDING PROPOSAL
Shall Grass Lake Community Schools, Jackson and Washtenaw Counties, Michigan, borrow the sum of not to exceed One Million Seven Hundred Fifty Thousand Dollars ($1,750,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:
erecting, furnishing and equipping additions to the high school; acquiring, installing and equipping technology for the high school; and developing and improving the site?
The following is for informational purposes only:
No millage will be levied for the proposed bonds in 2010. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is sixteen (16) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is .34 mill ($0.34 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.)
___YES
___NO
Pinckney Community Schools
(Pinckney Community Schools voters will vote in Livingston County)
BONDING PROPOSAL
Shall Pinckney Community Schools, Livingston and Washtenaw Counties, Michigan, borrow the sum of not to exceed Fifty-Nine Million Four Hundred Sixty-Five Thousand Dollars ($59,465,000) and issue its general obligation unlimited tax bonds therefor, in one of more series, for the purpose of:
partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; acquiring, installing and equipping technology for school facilities; constructing, equipping, developing and improving outdoor athletic and physical education facilities, play fields, playgrounds and storage sheds; erecting, furnishing and equipping additions to Pathfinder School, in part, to connect Navigator School for a performing and visual arts wing; erecting, furnishing and equipping a facility for building and grounds and transportation; and acquiring, developing and improving sites?
The following information is for informational purposes only:
No millage will be levied for the first series of the proposed bonds in 2010 for a zero (0) net increase in debt millage for the bonds. The maximum number of years each series of 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 2.13 mills ($2.13 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 and benefits, or other operating expenses.)
___YES
___NO
