Shall New Haven Community Schools, Macomb County, Michigan, borrow the sum of not toexceed Forty-Three Million Six Hundred Sixty Thousand Dollars ($43,660,000) and issue itsgeneral obligation unlimited tax bonds therefor, in one or more series, for the purpose of:remodeling, furnishing and refurnishing, and equipping and reequippingschool buildings; acquiring, installing, and equippingand re-equipping school buildings for instructional technology;erecting and equipping an athletic concession building at themiddle school and a bus garage; purchasing school buses; andpreparing, developing, improving, and equipping playgrounds,athletic fields and facilities, and sites?The following is for informational purposes only:The estimated millage that will be levied for the proposed bonds in 2024, under current law, is-0- mill ($0 on each $1,000 of taxable valuation) for a -0- mill net increase over the prior year’slevy. The maximum number of years the bonds of any series may be outstanding, exclusive ofany refunding, is twenty-five (25) years. The estimated simple average annual millageanticipated to be required to retire this bond debt is 1.09 mills ($1.09 on each $1,000 of taxablevaluation).The school district expects to borrow from the State School Bond Qualification and LoanProgram to pay debt service on these bonds. The estimated total principal amount of thatborrowing is $5,383,496 and the estimated total interest to be paid thereon is $2,982,658. Theestimated duration of the millage levy associated with that borrowing is eight (8) years and theestimated computed millage rate for such levy is 8.26 mills. The estimated computed millage ratemay change based on changes in certain circumstances.The total amount of qualified bonds currently outstanding is $54,005,000. The total amount ofqualified loans currently outstanding is approximately $16,023,588.(Pursuant to State law, expenditure of bond proceeds must be audited and the proceeds cannot beused for repair or maintenance costs, teacher, administrator or employee salaries, or otheroperating expenses.)