Frankfort-Elberta Schools Bonding Proposal
Shall Frankfort-Elberta Area Schools, Benzie County, Michigan, borrow the sum of not to exceed Thirteen Million Seventy-Five Thousand Dollars ($13,075,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:
erecting, furnishing and re-equipping additions to the middle/high school building; remodeling, equipping and re-equipping and furnishing and refurnishing school buildings; acquiring, installing, and equipping or re-equipping school buildings for instructional technology; purchasing school buses; and preparing, developing, improving and equipping athletic facilities and sites?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2022 is 0.21 mill ($0.21 on each $1,000 of taxable valuation), for a net -0- mill increase from the prior year’s levy. The maximum number of years the bonds of any series may be outstanding, exclusive of any refunding, is eighteen (18) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.20 mills ($1.20 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.)
Mackinac Island School District Operating Millage Renewal Proposal
This proposal would, renew and restore the authority of the School District to levy the statutory limit of 7.8 mills on non-homestead property (principally industrial and commercial real property and residential rental property) which currently expires with the Schools District’s 2021 tex levy. The authorization will allow the School District to continue to receive revenues at the full per pupil foundation allowance permitted by the State. Personal residences are exempt from this levy.
Shall the limitation on the total amount of taxes which may be assessed against all property, except principal residences and other property exempted by law, situated within the Mackinac Island Public Schools, County of Mackinac, State of Michigan, be increased, in the amount of 7.8 mills ($7.80 on each $1,000 of taxable valuation), for a period of three (3) years, 2022 to 2024, inclusive with 7.3204 mills of the above 7.8 mills being a renewal of authorized millage which will otherwise expire on December 31, 2021 and 0.4796 of the above 7.8 mills being a restoration of millage lost as a result of the reduction required by the Michigan Constitution? This operating millage if approved and levied, would provide estimated revenues to the School District of $1,753,300 during the 2022 calendar year, to be used for general operating purposes.
Mt. Pleasant Public Schools Bonding Proposal
Shall Mt. Pleasant Public Schools, Isabella County, Michigan, borrow the sum of not to exceed Forty-Five Million Nine Hundred Thousand Dollars ($45,900,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:
erecting additions to, and remodeling, furnishing and refurnishing, and equipping and re-equipping school facilities; acquiring and installing instructional technology and instructional technology equipment for school facilities; erecting storage facilities; purchasing school buses; and preparing, developing, improving, and equipping athletic fields, athletic facilities, and sites?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2022 is 1.4 mills ($1.40 on each $1,000 of taxable valuation), for a 0 mill net increase over the prior year’s levy. The maximum number of years the bonds of any series may be outstanding, exclusive of any refunding, is fifteen (15) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.83 mills ($2.83 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.)
Pentwater Public Schools Bonding Proposal
Shall Pentwater Public Schools, Oceana and Mason Counties, Michigan, borrow the sum of not to exceed Twenty-Three Million Nine Hundred Thousand Dollars ($23,900,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:
remodeling, including security improvements to, furnishing and refurnishing, and equipping and re-equipping a school building; erecting, furnishing, and equipping a new gymnasium and auditorium building; acquiring and installing instructional technology and instructional technology equipment for school buildings; and developing, equipping, and improving athletic fields and facilities, driveways, parking areas, and a site?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2022, is 3.22 mills ($3.22 on each $1,000 of taxable valuation). The maximum number of years the bonds of any series 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 3.52 mills ($3.52 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 $0. 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.)
Pine River Area Schools Operating Millage Renewal Proposal
This proposal will allow the school district to continue to levy the statutory rate of not to exceed 18 mills on all property, except principal residence and other property exempted by law, required for the school district to receive its revenue per pupil foundation allowance and renews millage that will expire with the 2021 tax levy.
Shall the currently authorized millage rate limitation of 19.8044 mills ($19.8044 on each $1,000 of taxable valuation) on the amount of taxes which may be assessed against all property, except principal residence and other property exempted by law, in Pine River Area Schools, Osceola, Lake and Wexford Counties, Michigan, be renewed for a period of 7 years, 2022 to 2028, inclusive, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and 18 mills are levied in 2022 is approximately $2,254,734 (this is a renewal of millage that will expire with the 2021 tax levy)?
Tahquamenon Area Schools Bonding Proposal
Shall Tahquamenon Area Schools, Luce, Schoolcraft, Mackinac and Chippewa Counties, Michigan, borrow the sum of not to exceed Nine Million Seven Hundred Fifty Thousand Dollars ($9,750,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:
remodeling, including security improvements to, furnishing and refurnishing, equipping and re-equipping, and erecting an addition to a school building and developing and improving a site?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2022 is 1.90 mills ($1.90 on each $1,000 of taxable valuation). The maximum number of years the bonds of any series 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 1.84 mills ($1.84 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 $0. 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.)