Shall the limitation on the amount of taxes which may be assessed against all property in Chelsea School District, Washtenaw and Jackson Counties, Michigan, be renewed by and the board of education authorized to levy not to exceed .9283 mill ($0.9283 on each $1,000.00 of taxable valuation) for a period of 10 years, 2007 to 2016, inclusive, to continue to provide for a sinking fund for the construction or repair of school buildings, acquisition of sites and all other purposes authorized by law; the estimate of the revenue the school district will collect if the millage is approved and levied in 2007 is approximately $787,428?