Homer School District Bond Measure (February 2011)
This measure was approved
- YES 425
- NO 360
This measure sought to create a bond in the amount of $18 million which would go towards helping pay for equipping, furnishing and purchasing technology for the school district.
Text of measure
The question on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|Shall Homer Community School District, Calhoun, Jackson, Hillsdale and Branch Counties, Michigan, borrow the sum of not to exceed Eighteen Million Dollars ($18,000,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of: erecting, furnishing and equipping an addition to and partially remodeling, furnishing and refurnishing, and equipping and re-equipping the school building, in part for security purposes; acquiring, installing and equipping educational technology for the school building, including the new addition; constructing, equipping, developing and improving play fields and playgrounds; and developing and improving parking areas and the site? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2011, under current law, is 2.63 mills ($2.63 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 5.91 mills ($5.91 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.)|