PROPOSITION I
OFFICIAL BALLOT
MANISTIQUE AREA SCHOOLS
SCHQOLCRAFT COUNTY, MICHIGAN
FEBRUARY 26, 2002
INSTRUCTIONS: To vote in favor of a proposal, place a cross (x) or check
mark (/) in the square to the right of the word "YES"; to vote against a
proposal, place a cross (x) or check mark (/) in the square to the right of
the word "NO". Before returning the ballot, fold the ballot so that the
face of the ballot is not exposed and so that the numbered corner is visible.
I. BONDING PROPOSAL
Shall Manistique Area Schools, Schoolcraft County, Michigan, borrow the sum
of not to exceed Eleven Million Three Hundred Fifty Thousand Dollars
($11,350,000) and issue its general obligation unlimited tax bonds therefor,
for the purpose of:
erecting, furnishing and equipping additions to and
partially remodeling, refurnishing and re-equipping the
Lakeside building to be a centralized elementary school
including an auxiliary gymnasium, acquiring and
installing educational technology improvements and
developing and improving the playground and site?
The following is for informational purposes only
The maximum number of years the bonds may be outstanding, exclusive of any
refunding, will not exceed twenty-five (25) years. The estimated millage that
will be levied for the proposed bonds in the year 2002 is 3.21 mills ($3.21
on each $1,000 of taxable valuation). The estimated simple average annual
millage anticipated to be required to retire this bond debt is 2.98 mills
($2.98 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.)
YES ( )
NO ( )
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