Grand Haven Area Public Schools Bond Proposal

Shall Grand Haven Area Public Schools, Ottawa and Muskegon Counties, Michigan, borrow the sum of not to exceed Ninety-Eight Million Five-Hundred Fifty Thousand Dollars ($98,550,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of: erecting, completing and remodeling school buildings, facilities and additions to school buildings and facilities; equipping, re-equipping, furnishing and refurnishing school buildings and facilities; purchasing school buses; acquiring and installing instructional technology; and preparing, developing, improving and equipping play fields, playgrounds, structures, facilities and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2027 is 1.95 mills ($1.95 on each $1,000 of taxable valuation). The maximum number of years the bonds of any series may be outstanding, exclusive of any refunding, is twenty-five (25) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.15 mills ($1.15 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.)