Farmington Public School District Bond Issue Proposal (August 2013)
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A Farmington Public School District Bond Issue Proposal ballot question was defeated on the August 6, 2013, election ballot by voters in the Farmington Public School District in Oakland County, which is in Michigan.
If approved, this measure would have authorized the Farmington Public School District to increase its debt by $222 million through issuing general obligation bonds in that amount in order to fund building renovations, new technology and safety upgrades. The money would have been used to fund upgrades to all 16 of the school district's schools. The bond money would also have provided digital devices to every student, media centers in schools, three new high school auditoriums, a new pool and upgraded gymnasiums.
In 2013, the district had about 11,500 students, which is about 700 less than four years ago. The district also predicted a 100 student drop in enrollment by 2018.
This tax was estimated to have cost a taxpayer with a house valued at $86,370 an annual amount of $226.[1]
Election results
| Farmington School Bond Prop. | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 No | 8,043 | 53.17% | ||
| Yes | 7,084 | 46.83% | ||
- These results are from the Oakland County elections office.
Text of measure
Question on the ballot:
| “ | Shall the Farmington Public School District, County of Oakland, Michigan, borrow the principal sum of not to exceed Two Hundred Twenty-Two Million Dollars ($222,000,000) and issue its general obligation unlimited tax bonds for the purpose of defraying the cost of making the following improvements:
The estimated millage to be levied in 2013 to service this issue of bonds is 0.72 mills ($0.72 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds of this issue is 2.62 mills ($2.62 per $1,000 of taxable value). The bonds may be issued in multiple series, payable in the case of each series in not to exceed 25 years from the date of issue of such series.[2][3] |
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See also
External links
Footnotes
- ↑ ‘’Detroit Free Press’’, “Aug 6 voters to decide poice and fire funding, choose mayoral and council candidates,” July 28, 2013
- ↑ Michigan State Elections Department
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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