School Improvement Bond Proposition

County of Oakland State of Michigan Shall the Farmington Public School District, County of Oakland, State of Michigan, borrow the sum of not to exceed One Hundred Seventy-One Million Dollars ($171,000,000) and issue its general obligation unlimited tax bonds, in one or more series, to pay the cost of the following projects to create a modern learning environment for students which will accommodate the expansion of the STEAM and Maker Space Programs and for health, safety, security, energy conservation and other purposes: - Remodeling, constructing additions to, equipping, re-equipping, furnishing, re-furnishing school buildings, athletic fields, playgrounds and other facilities; - Acquiring and installing instructional technology infrastructure and equipment in school buildings and other facilities; and - Preparing, developing and improving sites at school buildings, athletic fields, playgrounds and other facilities? The annual debt millage required to retire all bonds of the School District currently outstanding and proposed pursuant to this ballot is expected to be at or below 3.20 mills which is a 0.00 mill increase from the annual debt millage levied in 2026. 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 0.95 mills (which is equal to $0.95 per $1,000 of taxable value); and the estimated simple average annual millage that will be required to retire each series of bonds is 1.32 mills annually ($1.32 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.)