Difference between revisions of "Potterville School District Bond Measure (February 2012)"

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==Text of measure==
 
==Text of measure==
 
{{Q box|
 
{{Q box|
   text=Building Security and Education Technology Bonding Proposal Shall Potterville Public Schools, Eaton County, Michigan, borrow the sum of not to exceed Three Million Two Hundred Twenty Thousand Dollars ($3,220,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing and equipping an elementary addition and partially remodeling, refurnishing and re-equipping school district buildings; acquiring and installing educational technology improvements and security improvements, and developing and improving the site? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is 0- mills ($0.00 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is ten (10) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.53 mills ($1.53 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.)}}
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   text=Building Security and Education Technology Bonding Proposal Shall Potterville Public Schools, Eaton County, Michigan, borrow the sum of not to exceed Three Million Two Hundred Twenty Thousand Dollars ($3,220,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of: erecting, furnishing and equipping an elementary addition and partially remodeling, refurnishing and re-equipping school district buildings; acquiring and installing educational technology improvements and security improvements, and developing and improving the site? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is 0- mills ($0.00 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is ten (10) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.53 mills ($1.53 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.)}}
  
 
==References==
 
==References==
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{{Michigan}}
 
{{Michigan}}
 
[[Category:Michigan 2012 local ballot measures]]
 
[[Category:Michigan 2012 local ballot measures]]
[[Category:School bond, Michigan, 2012]]
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[[Category:Local school bonds, Michigan, 2012]]

Revision as of 21:41, 22 October 2012

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A Potterville School District Bond Measure was on the February 28, 2012 ballot in the Potterville school district area which is in Eaton County.

This measure was approved

  • YES 515 Approveda
  • NO 461 [1]

This measure sought to issue a bond in the amount of $3.22 million in order to pay for addition, remodeling, equipping, updating technology and improving security throughout the district.[2]

Text of measure

The question on the ballot:

Building Security and Education Technology Bonding Proposal Shall Potterville Public Schools, Eaton County, Michigan, borrow the sum of not to exceed Three Million Two Hundred Twenty Thousand Dollars ($3,220,000) and issue its general obligation unlimited tax bonds therefore, for the purpose of: erecting, furnishing and equipping an elementary addition and partially remodeling, refurnishing and re-equipping school district buildings; acquiring and installing educational technology improvements and security improvements, and developing and improving the site? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2012, under current law, is 0- mills ($0.00 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is ten (10) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.53 mills ($1.53 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.)[3]

References

  1. Eaton County Elections, Current Election Results
  2. Michigan Department of the Treasury, School bond list
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.