Shall the Plymouth-Canton Community Schools, Counties of Wayne and Washtenaw, State of Michigan, borrow the sum of not to exceed Two Hundred Seventy-Five Million Dollars ($275,000,000) and issue its general obligation unlimited tax bonds, in one or more series, for the purpose of paying for the cost of the following projects:
- Remodeling, equipping, re-equipping, furnishing and re-furnishing school buildings, performing arts center, activity
and athletic fields, playgrounds and other facilities for safety and security, energy conservation and other purposes; · Erecting, completing, equipping and furnishing a new stadium, activity and athletic facilities and a
maintenance/storage facility and secure entryway, classroom, gymnasium, and natatorium additions to existing
school buildings and other facilities;
- Acquiring and installing instructional technology infrastructure and equipment in school buildings and other facilities
and the purchase of school buses; and
- Preparing, developing and improving sites at school buildings, playgrounds, activity and athletic fields and other
facilities for traffic control, safety and security and other purposes?
The annual debt millage required to retire all bonds of the School District currently outstanding and proposed pursuant to this Proposal is expected to remain at or below the annual debt millage of 4.02 mills levied in 2019. The maximum number of years any series of bonds may be outstanding, exclusive of refunding, is not more than twenty (20) years; the estimated millage that will be levied to pay the proposed bonds in the first year is 0.98 mills (which is equal to $0.98 per $1,000 of taxable value); and the estimated simple average annual millage that will be required to retire each series of bonds is 1.65 mills annually ($1.65 per $1,000 of taxable value).
(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.)