Michigan: South Haven Public Schools - Bonding proposal

Shall South Haven Public Schools, Van Buren and Allegan Counties, Michigan, borrow the sum of not to exceed Thirty Six Million Seven Hundred Forty-Five Thousand Dollars ($36,745,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:

erecting, furnishing and equipping additions to South Haven High School; partially remodeling, furnishing and refurnishing, equipping and re-equipping South Haven Public Schools' facilities, in part, for security improvements; acquiring, installing and equipping instructional technology for school facilities; purchasing school buses; roof replacement, fencing and lighting at the football stadium; and developing and improving sites?

The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2014, under current law, is 1.15 mills ($1.15 on each $1,000 of taxable valuation).  The maximum number of years the bonds may be outstanding, exclusive of any refunding, is thirty (30) years.  The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.22 mills ($2.22 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.)

The following precincts will vote on this issue:

Covert Township, Precinct 1 (Van Buren County)

Geneva Township, Precinct 1 (Van Buren County)

City of South Haven, Ward 1 Precinct 1 (Van Buren County)

City of South Haven, Ward 2 Precinct 1 (Van Buren County)

City of South Haven, Ward 3 Precinct 1 (Van Buren County)

South Haven Township, Precinct 1 (Van Buren County)

South Haven Township, Precinct 2 (Van Buren County)