MI OC AC School District of the City of Holland Bond Proposal
Shall the School District of the City of Holland, Ottawa and Allegan Counties, Michigan, borrow the sum of not to exceed Forty-Nine Million Two Hundred Twenty-Five Thousand Dollars ($49,225,000) and issue its general obligation unlimited tax bonds therefor, in one or more series, for the purpose of:erecting additions to, remodeling, including security improvements to, furnishing and refurnishing, and equipping and re-equipping school buildings; acquiring and installing instructional technology and instructional technology equipment for school buildings; erecting school support buildings; purchasing school buses; and erecting, developing and improving athletic fields and facilities, parking areas, and sites?The following is for informational purposes only:The estimated millage that will be levied for the proposed bonds in 2026 is .63 mill ($0.63 on each $1,000 of taxable valuation) for a -0- mill net increase over the prior year’s levy. The maximum number of years the bonds of any series may be outstanding, exclusive of any refunding, is thirty (30) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.03 mills ($1.03 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.)
