|| Shall Mio AuSable Schools, Oscoda County, Michigan, borrow the sum of not to exceed One Million Nine Hundred Twenty Thousand Dollars ($1,920,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:
remodeling, refurnishing and re-equipping school buildings; acquiring and installing educational technology for a school building; purchasing school buses; and improving the site? 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 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 fifteen (15) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1 mill ($1.00 on each $1,000 of taxable valuation).