Question 3: Bond Proposal

Shall Chippewa Hills School District, Mecosta, Isabella and Osceola Counties, Michigan, borrow the sum of not to exceed Twenty-Nine Million Nine Hundred Thousand Dollars ($29,900,000) and issue its general obligation unlimited tax bonds therefore, in one or more series, for the purpose of:
remodeling, including safety and security improvements, furnishing and refurnishing, and equipping and reequipping existing school buildings; erecting, furnishing, and equipping school support buildings; acquiring and installing instructional technology and instructional technology equipment for school buildings; purchasing school buses; and equipping, developing,
and improving playgrounds, athletic fields and facilities, parking
areas, driveways, and sites?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2027 is 1.04 mills ($1.04 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 refunding, is twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.03 mills (1.03 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.)