TROY SCHOOL DISTRICT - BUILDING AND SITE SINKING FUND TAX PROPOSAL
This proposal, if approved by the electors, will allow the Troy School District to levy a building and site sinking fund tax, the proceeds of which will be used to make improvements and repairs to the School District's facilities. Pursuant to State Law, the expenditure of the building and site sinking fund tax proceeds must be audited, and the proceeds cannot be used for teacher, administrator or employee salaries, maintenance or other operating expenses.Shall the Troy School District be authorized to levy one (1) mill ($1.00 per $1,000 of taxable valuation), for a period of ten (10) years, from July 1, 2018 through June 30, 2028, to create a building and site sinking fund to be used for the purpose of the purchase of real estate for sites for, and the construction or repair of, school buildings, for school security improvements, or for the acquisition or upgrading of technology, and for other purposes, to the extent permitted by law? This millage would provide estimated revenues to the Troy School District of approximately Three Million Seven Hundred Forty-Five Thousand Two Hundred Fifty-Seven ($3,745,257) Dollars during the 2018 calendar year, if approved and levied.
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