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Proposal Text
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Shall Camden-Frontier School, Hillsdale and Branch Counties, Michigan, borrow the sum of not to exceed One Hundred Seventy Thousand Dollars ($170,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: acquiring and installing educational technology and equipping and re-equipping school facilities for educational technology? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, is 0.5 mill ($0.50 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is three (3) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 0.49 mill ($0.49 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.)
Shall the limitation on the amount of taxes which may be assessed against all property in Hanover-Horton School District, Jackson and Hillsdale 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, 2012 to 2016, inclusive, to continue to provide for 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 2012 is approximately $245,608?
