Shall the Plymouth-Canton Community Schools, Counties of Wayne and Washtenaw, State of Michigan, borrow the sum of not to exceed Ninety-Five Million Four Hundred Fifteen Thousand and 00/1000 ($95,415,000) Dollars and issue its general obligation unlimited tax bonds therefore, in one or more series, for the purpose of paying for the cost for the following:

Erecting, equipping and furnishing a new middle school building and a new career technical education facility and acquiring, preparing, developing and improving the sites for a new middle school building and a new career technical education facility.

Erecting, equipping and furnishing additions to school buildings and preparing, developing and improving sites for additions to school buildings

Remodeling, re-equipping, re-furnishing school buildings, preparing, developing and improving sites at school buildings and purchasing school buses; and

Equipping and re-equipping school buildings for technological systems and equipment?

The maximum number of years the bonds may be outstanding, exclusive of refunding, is not more than twenty-five (25) years; the estimated millage that will be levied to pay the proposed bonds in the first year is 0.86 mills (which is equal to $0.86 per $1,000 of taxable value); and the estimated simple average annual millage that will be required to retire the bonds over twenty-five (25) years is 0.83 mills annually ($0.83 per $1,000 taxable value).

If this Bond Proposition 1 is combined with Bond Proposition 2 it will be outstanding, exclusive of refunding, for not more than twenty-five (25) years; the estimated millage that will be levied to pay the combined proposed bonds in the first year is 1.08 mills (which is equal to $1.08 per $1,000 of taxable value); and the estimated simple average millage that will be required to retire the bonds over twenty-five (25) years is 1.05 mills annually ($1.05 per $1,000 of taxable value).

If approved by the voters the bonds will be guaranteed by the State of Michigan under Section 16 of Article IX of the State Constitution of 1963, as amended. If the School District borrows from the State of Michigan to pay debt service on the bond under the State of Michigan’s guarantee the School District may be required to levy debt mills beyond the term of the bonds to repay the State of Michigan.

(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.)