Hart Public School District Bond Proposal (February 2013)
This measure authorized the Hart Public School District to increase its debt by $6.995 million through issuing general obligation bonds in that amount in order to fund additions to the district high school and remodeling, equipping and furnishing of the high school and other school facilities. These bonds would mature in a maximum of 15 years and the average annual property tax rate required retire this bond measure is estimated to be 1.7 mills ($1.7 per $1,000 of assessed valuation).
|Hart Public SD Bond Prop.|
Election results from Oceana County elections office
Text of measure
Language on the ballot:
|“|| Shall Hart Public Schools, Oceana County, Michigan, borrow the sum of not to exceed Six
Million Nine Hundred Ninety-Five Thousand Dollars ($6,995,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:
Erecting, furnishing and equipping additions to the high school; remodeling, equipping and re-equipping and furnishing and refurnishing the high school; acquiring and installing instructional technology; and developing, improving and equipping athletic facilities, athletic fields and the site?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2013, is .98 mill ($0.98 on each $1,000 of taxable valuation). The maximum number of years the bonds 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 1.70 mills ($1.70 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.)