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Proposal Text
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Shall the limitation on the amount of taxes which may be assessed against all property in the City of Hartford, Van Buren County, Michigan, remain 1.4941 mills ($1.4941 for each $1,000.00) on taxable valuation of real property for the years 2015 and 2016 to provide funds for purchasing fire apparatus and equipment for the use by the Hartford Fire Department; (the estimate of the revenue the City will collect if the millage is renewed and levied for the first year is approximately $43,985.52); this is a renewal of a tax that expired in 2014 and such renewal tax levy to be contingent upon approval by the Township of Hartford of a similar renewal?
This proposal, if approved by the electors, will allow the Covert Public Schools District No. 18 to continue to levy the number of operating mills required for the School District to receive revenues at the full per pupil foundation allowance permitted by the State of Michigan. Shall the limitation on the total amount of taxes which may be assessed against all property, except principal residence and other property exempted by law, situated within the Covert Public Schools District No. 18, Counties of Van Buren and Berrien, State of Michigan, be increased as provided in the Michigan Constitution, in the amount of 19.0188 mills with 18 mills being the maximum allowable levy ($18.00 on each $1,000 of taxable valuation), for a period of five (5) years, 2016 to 2020, inclusive with 18.5188 mills of the above 19.0188 mills being a renewal of authorized millages which would otherwise expire on December 31, 2015 and 0.50 mill of the above 19.0188 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 Ten Million Eight Hundred Fifty-Five Thousand ($10,855,000) Dollars during the 2016 calendar year, to be used for general operating purposes.
I. BONDING PROPOSAL 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 its 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.)
Shall the Van Buren District Library be authorized to levy a new additional tax annually upon the taxable value of all property subject to ad valorem taxation within the district of the Van Buren District Library in an amount not to exceed 0.2 mill ($0.20 for each $1,000 of taxable value) for a period of ten (10) years, 2015 through 2024, inclusive, to provide funds for all library purposes authorized by law? The following is for informational purposes: This millage will raise estimated revenues of $372,000 in 2015 (the first year of the levy). To the extent required by law, a portion of the revenues from this millage (approximately 0.3% in the first year of the levy) will be captured within the districts of and disbursed to the Downtown Development Authorities of the City of Bangor and the Village of Lawrence, the Local Development Finance Authority of the Village of Lawrence, and the Brownfield Redevelopment Authority of Van Buren County. Pursuant to Funding and Reciprocal Borrowing Agreements, 75% of the millage revenues received from Porter Township will be disbursed to the Village of Lawton Public Library and 10% of the millage revenues received from Bangor Township will be disbursed to the Hartford Public Library.
