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The only item on the May 3 ballot in Chippewa County was a Pickford Public Schools bonding proposal, and according to unofficial results it has passed.
Pickford Township is the only township in Chippewa County that belongs to Pickford Public Schools and the only one affected by the election results.
According to unofficial results issued by the Chippewa County clerk, the proposal received 271 yes votes and 179 no votes.
The bonding proposal was as follows:
“Shall Pickford Public Schools, Chippewa and Mackinac Counties, Michigan, borrow the sum of not to exceed Three Million Five Hundred Thousand Dollars ($3,500,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of: Erecting an addition to the school building, Remodeling the school building and Preparing, developing, and improving the site?
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2023 is 1.17 mills, $1.17 on each $1,000 of taxable valuation, for a 0.50 mill net increase over the 2021 levy. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is 24 years.
The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.57 mills, $1.57 on each $1,000 of taxable valuation.
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 $8,450,000. 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.”
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