Shall Kalamazoo Public Schools, Kalamazoo County, Michigan, borrow the sun of not to exceed One Hundred Ninety-Seven Million One Hundred Thirty-Five Thousand Dollars ($197,135,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:
- Purchasing, erecting, completing, remodeling, equipping and reequipping, and furnishing school buildings, including safety and security improvements, structures, athletic fields, play fields, playgrounds and facilities;
- Acquiring, preparing, developing, and improving sites;
- Purchasing school buses; and
- acquiring, installing, and equipping, and reequipping school buildings for instructional technology?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2023 is 2.31 mills ($2.31 on each $1,000 of taxable valuation) for a -0- mill net increase over the prior year’s levy. The maximum number of years the bonds of any series may be outstanding, exclusive of any funding, is twenty-five (25) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.41 mills ($2.41 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.)