3 of 3 precincts reporting
HART PUBLIC SCHOOLS BONDING PROPOSAL
Shall Hart Public Schools, Oceana County, Michigan, borrow the sum of not to exceed Six Million Nine Hundred Ninety-Five Thousand Dollars ($6,995,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:
Erecting, furnishing and equipping additions to the high school; remodeling, equipping and re-equipping and furnishing and refurnishing the high school; acquiring and installing instructional technology; and developing, improving and equipping athletic facilities, athletic fields and the site?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2013, is .98 mill ($0.98 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is fifteen (15) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.70 mills ($1.70 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.)