Plymouth-Canton Community School District Bonding Proposal (May 2013)
This measure authorized the Plymouth-Canton Community School District to increase its debt by $114.4 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 property tax levy needed to repay these bonds in the required 20 years is 1.22 mills ($1.22 per $1,000 of assessed valuation).
|Plymouth-Canton School Bonding Proposal|
Text of measure
Language on the ballot:
|“|| Shall Plymouth-Canton Community Schools, Wayne and Washtenaw Counties, Michigan, borrow the sum of not to exceed One Hundred Fourteen Million Four Hundred Thousand Dollars ($114,400,000) and issue in one or more series its general obligation unlimited tax bonds therefor, for the purpose of:
partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities; erecting, furnishing and equipping a new middle school; erecting, furnishing, and equipping additions to and partially remodeling, furnishing and refurnishing, equipping and re-equipping East, West, Discovery and Pioneer Middle Schools; acquiring, installing and equipping educational technology for new and existing school facilities; purchasing school buses; constructing, equipping, developing and improving athletic facilities, play fields and playgrounds; 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 .35 mills ($0.35 on each $1,000 of taxable valuation) for a -0- net increase in current debt millage levied for all bonds. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.22 mills ($1.22 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.)
- May 7, 2013 ballot measures in Michigan
- Washtenaw County, Michigan ballot measures
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- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
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