SCHOOL IMPROVEMENT BOND PROPOSITION
Shall the Fraser Public Schools, County of Macomb, State of Michigan, borrow the sum of not to exceed Nineteen Million Nine Hundred Thousand ($19,900,000) Dollars and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of paying for the cost of the following:
∑ Equipping and re-equipping school buildings and other facilities for technology equipment and systems;
∑ Remodeling, re-equipping, re-furnishing school buildings and other facilities and the purchase of school buses;
∑ Erecting, equipping and furnishing additions to school buildings; and
∑ Preparing, developing and improving sites at school buildings, additions to school buildings and other facilities?
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The estimated millage that will be levied to pay the proposed bonds in the first year is 0 mills ($0 per $1,000 of taxable value). The maximum number of years the proposed bonds may be outstanding, exclusive of refunding, is not more than thirty (30) years; and the estimated simple average annual millage that will be required to retire the proposed bonds over thirty (30) years is 1.97 mills annually ($1.97 per $1,000 of taxable value).
If approved by the voters the
bonds will be guaranteed by the State of
(Pursuant to State law, expenditure of bond proceeds must be audited, and the proceeds cannot be used for teacher, administrator or employee salaries, repair or maintenance costs or other operating expenses.)