LAMPHERE SCHOOLS BUILDING AND SITE SINKING FUND REPLACEMENT TAX PROPOSAL
BUILDING AND SITE SINKING FUND REPLACEMENT TAX PROPOSALThis proposal, if approved by the electors, will replace and extend the authority last approved by the electors in 2011 and which expires with the 2021 levy for The Lamphere Schools to levy a building and site sinking fund tax. This proposal allows the use of proceeds of the millage for all purposes previously permitted by law as well as newly authorized security improvements and the acquisition or upgrading of technology. 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. As a replacement of existing authority, shall The Lamphere Schools be authorized to levy three (3) mills ($3.00 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 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 Lamphere Schools of approximately One Million Nine Hundred Fifty Thousand ($1,950,000) Dollars during the 2018 calendar year, if approved and levied.
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