Wyoming Public School District Bonding Proposal (May 2013)
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A Wyoming Public School District Bonding proposal was defeated on the May 7, 2013, election ballot in Kent County, which is in Michigan.
If approved, this measure would have authorized the Wyoming Public School District to increase its debt by $53,165,000 through issuing general obligation bonds in that amount in order to fund the construction and improvement projects described below in the Text of measure section. The estimated average property tax levy rate needed to repay these bonds in the required 25 years is 3.67 mills ($3.67 per $1,000 of assessed valuation).[1]
Election results
| Wyoming School Bonding Proposal | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 No | 1477 | 53.81% | ||
| Yes | 1268 | 46.19% | ||
- These results are from Kent County Election results from Election Magic
Text of measure
Language on the ballot:
| “ | Shall Wyoming Public Schools, Kent County, Michigan, borrow the sum of not to exceed Fifty-Three Million One Hundred Sixty-Five Thousand Dollars ($53,165,000) 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 partially remodeling, furnishing and refurnishing, equipping and re-equipping school facilities, in part, for facility infrastructure, building security and entryways, energy conservation improvements, a performing arts center and classrooms: acquiring, installing and equipping educational technology for school facilities; constructing, equipping, developing and improving play fields, playgrounds, and athletic facilities; 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 3.22 mills ($3.22 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty-five (25) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.67 mills ($3.67 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 employees salaries, or other operating expenses.)[1][2] |
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See also
External links
Footnotes
- ↑ 1.0 1.1 Michigan SoS Public Ballot Search
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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