Fowler Public School District Bond Proposal (November 2012)
This proposal authorized the Fowler Public School District to issue up to $4,710,000 in general obligation bonds in order to fund the improvement of school facilities. The property tax used to pay this debt will be 2.60 mills ($2.60 per $1,000 of assessed valuation) levied at this rate for the duration of the bonds, which can be outstanding for a maximum of 20 years.
|Fowler Public School District Bond Prop.|
Election results from Clinton County Official Canvas of Election Results
Text of measure
Language on the ballot:
|“|| Shall Fowler Public School District, Clinton County, Michigan, borrow the sum of not to exceed Four Million Seven Hundred Ten Thousand Dollars ($4,710,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of:
partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; erecting, furnishing and equipping an addition to the high school; resurfacing, developing and improving the running track; acquiring, installing and equipping educational technology for school facilities; and developing and improving sites?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2013 is 2.60 mills ($2.60 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 3.71 mills ($3.71 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.)