Mancelona Public School District Bond Proposal (February 2013)

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A Mancelona Public School District Bond proposal was approved on the February 26, 2013 election ballot in Antrim and Kalkaska Counties, which are in Michigan.

This proposal authorized the Mancelona Public School District to increase its debt by $1.93 million through issuing general obligation bonds in that amount in order to fund remodeling, equipping and installation of technology in school facilities and the purchasing of buses.These bonds will mature in seven years and the estimated annual property tax rate used to pay this debt is 0.74 mills ($0.74 per $1,000 of assessed valuation).[1]

Election results

Multi-county

Mancelona Public SD Bond Prop.
ResultVotesPercentage
Approveda Yes 350 68.49%
No16131.51%

Election results from Antrim County Website February 26, 2013 Multi-County election results.'

Text of measure

Language on the ballot:

Shall Mancelona Public School, Antrim and Kalkaska Counties, Michigan, borrow the sum of not to exceed One Million Nine Hundred Thirty Thousand Dollars ($1,930,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of:

remodeling, equipping and re-equipping school buildings; acquiring and installing; instructional technology in school buildings; and acquiring buses?

The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2013 is .30 mill ($0.30 on each $1,000 of taxable valuation), for a net -0- mill increase from the 2012 levy. The maximum number of years the bonds of each series may be outstanding, exclusive of any refunding, is seven (7) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is .74 mill ($0.74 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.)[1][2]

See also

External links

References

  1. 1.0 1.1 Michigan Secretary of state sample ballot generator
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.