Question 23 - Mesick Consolidated Schools Bond Proposal

Shall Mesick Consolidated Schools, Wexford and Manistee Counties, Michigan, borrow the sum of not to exceed Seventeen Million One Hundred Thousand Dollars ($17,100,000) and issue its general obligation unlimited tax bonds therefore for the purpose of: remodeling, furnishing and refurnishing, and equipping and re-equipping school buildings, primarily the 1966 portion of the elementary building, which will include roof replacements, HVAC improvements, and the creation of a secure entryway; and developing, equipping, and improving sites? The following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2027 is 3.40 mills ($3.40 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 3.16 mills ($3.16 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.)