Fenton Area Public Schools Bond Proposal (November 2012)

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A Fenton Area Public Schools Bond proposal was on the November 6, 2012 election ballot in Oakland, Genesee, and Livingston Counties, which are in Michigan.

This measure proposed to authorize the Fenton Area Public Schools District, which is in the Counties of Genesee, Ligingston, Oakland, to borrow up to $8,400,000 and issue its general obligation unlimited tax bonds in order to fund remodeling, re-equipping, and refurnishing schools and purchasing school buses.[1]

Genesee County

The following are election results for the measure:

Fenton Area Public School Bond Levy Proposal
ResultVotesPercentage
Defeatedd No5,75754.71%
Yes 4,766 45.29%


Results via Genesee County, November 6, 2012 General Election.

Livingston County

The following are election results for the measure:

Fenton Area Public Schools Bond Proposal
ResultVotesPercentage
Defeatedd No167054.66%
Yes 1385 45.34%

Results via Livingston County, Election Summary Report All Candidate Races and Proposals November 6, 2012 General Election Official Results

Text of measure

Language on the ballot:

Shall Fenton Area Public Schools, Genesee, Livingston and Oakland Counties, Michigan, borrow the sum of not to exceed Eight Million Four Hundred Thousand Dollars ($8,400,000) and issue its general obligation unlimited tax bonds therefore, in one or more series, for the purpose of:

partially remodeling, refurnishing and re-equipping school district buildings including acquiring and installing educational technology improvements and related infrastructure; and purchasing and equipping school buses? The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2013, 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 for any single series of bonds, exclusive of any refunding, is eleven (11) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.91 mills ($1.91 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.)[1][2]


See also

References

  1. 1.0 1.1 "Oakland County Elections," "Candidate and Proposals List"
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.



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