Michigan: Vicksburg Community Schools - Bonding proposal

Shall Vicksburg Community Schools, Kalamazoo and St. Joseph Counties, Michigan, borrow the sum of not to exceed Fifteen Million Four Hundred Eighty-Five Thousand Dollars ($15,485,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:

remodeling, furnishing and refurnishing, and equipping and re-equipping school district buildings; acquiring, installing and equipping instructional technology for school district buildings, together with related infrastructure improvements; 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 is 1.5 mills ($1.50 on each $1,000 of taxable valuation).  The maximum number of years the bonds may be outstanding for any single series, exclusive of any refunding, is eleven (11) years.  The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.79 mills ($2.79 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:

Leonidas Township, Precinct 1 (St Joseph County)

Mendon Township, Precinct 1 (St Joseph County)

Park Township, Precinct 1 (St Joseph County)

Park Township, Precinct 1 (St Joseph County)


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