Safety, Security, and School Improvement Bond Proposal

Shall Holly Area School District, Oakland County, Michigan, borrow the sum of not to exceed Ninety-Seven Million Six Hundred Thousand Dollars ($97,600,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of: - equipping school facilities, including installing emergency safety communication systems, security window enhancements, building security entrance barriers, and a backup power generator; - remodeling, furnishing and refurnishing, and equipping and re-equipping school facilities, including remodeling the library and media center at Holly High School, roof replacement, and replacing certain plumbing, mechanical, electrical, heating, ventilation, and air conditioning systems; - erecting, furnishing, and equipping school facilities, including a new multipurpose facility for improving music rehearsal spaces and expanded athletic practice spaces, and new outdoor storage buildings; - erecting, furnishing, and equipping additions to school facilities, including early childhood center at Davisburg Elementary School, secure entry at Holly Elementary School, expanded band room space at Holly High School, and an addition at Holly High School for improving career-technical trades, robotics space, dedicated fitness center, gym, and community space, including a community pool entrance; - acquiring and installing instructional technology and instructional technology equipment; - preparing, developing, improving, remodeling, and equipping athletic fields and facilities; and - preparing, developing, improving, and equipping sites and playgrounds? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2027, under current law, is 3.45 mills ($3.45 on each $1,000 of taxable valuation), for a -0- mill net increase over the prior year’s levy. The estimated simple average annual millage anticipated to be required to retire this bond debt is 2.81 mills ($2.81 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 thirty (30) years. The school district does not expect to borrow from the State to pay debt service on the bonds. The total amount of qualified bonds currently outstanding is $113,515,000. The total amount of qualified loans currently outstanding is $0. The estimated computed millage rate may change based on changes in certain circumstances. (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.)