Nottawa Community School Bond Proposal

Shall Nottawa Community School, St. Joseph County, Michigan, borrow the sum of not to exceed Four Million Three Hundred Sixty Thousand Dollars ($4,360,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: erecting, furnishing, and equipping additions to school buildings and the Nottawa Stone School; remodeling, furnishing and refurnishing, and equipping and re-equipping school buildings and the Nottawa Stone School; and preparing, developing, improving, and equipping drop-off areas, driveways, parking lots, playgrounds, and sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2027 is 2.53 mills ($2.53 on each $1,000 of taxable valuation). The maximum number of years the bonds 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 1.95 mills ($1.95 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.)