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East Lansing City School District Bond Proposal (February 2013)

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A East Lansing City School District Bond proposal was approved on the February 26, 2013 election ballot in Clinton and Ingham Counties, which are in Michigan.

This measure authorized the School District of East Lansing City to increase its debt by $5.3 million through issuing general obligation bonds in that amount in order to fund the instructional technology and the remodeling and equipping of school facilities. These bonds would mature in no more than five years and the estimated annual property tax rate required to pay back this debt is 1.25 mills ($1.25 per $1,000 of assessed valuation) over the life of the bonds.[1]

Election results

Clinton County

East Lansing City SD Bond Prop.
ResultVotesPercentage
Defeatedd No00%
Yes 0 0%

Election results from School Bond Measure election results and Clinton County Website, Election Results.

Ingham County

East Lansing City SD Bond Prop.
ResultVotesPercentage
Approveda Yes 1,921 68.56%
No88131.44%

Election results from Ingham County February 26, 2013 election results.

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 the School District of the City of East Lansing, Ingham and Clinton Counties, Michigan, borrow the sum of not to exceed Five Million Three Hundred Thousand Dollars ($5,300,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:

acquiring and installing instructional technology for school facilities; and remodeling, furnishing and re-furnishing, and equipping and re-equipping school facilities?

The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2013, is 1.25 mills ($1.25 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is five (5) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.25 mills ($1.25 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]

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