Livonia Public School District Bonding Proposal (May 2013)
This measure authorized the Livonia Public School District to increase its debt by $195 million through issuing general obligation bonds in that amount in order to fund the improvement projects described below in the Text of measure section. The estimated average annual property tax levy needed to repay these bonds in the required 30 years is 2 mills ($2 per $1,000 of assessed valuation).
|Livonia School Bond Proposal|
- These results are from Wayne County elections office
Text of measure
Language on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|“|| Shall Livonia Public Schools School District, Wayne County, Michigan, borrow the sum of not to exceed One Hundred Ninety-Five Million Dollars ($195,000,000) and issue, in one or more series, its general obligation unlimited tax bonds therefor, for the purpose of:
erecting, furnishing and equipping additions to and remodeling, furnishing and refurnishing, equipping and re-equipping school facilities, in part, for facility infrastructure, building security and entryways, energy conservation improvements, and performing arts centers and associated classrooms; acquiring, installing and equipping educational technology for school facilities; constructing, equipping, developing and improving play fields, playgrounds, and athletic facilities for press boxes; purchasing school buses; 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 2.40 mills ($2.40 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 2.00 mills ($2.00 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.)
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