GWINN AREA COMMUNITY SCHOOLS BOND PROPOSAL
Shall Gwinn Area Community Schools, Marquette County, Michigan, borrow the sum of not toexceed Forty-Eight Million Sixty-Five Thousand Dollars ($48,065,000) and issue its generalobligation unlimited tax bonds therefor, in one or more series, for the purpose of:erecting, furnishing, and equipping an elementary school addition to the middle/high schoolbuilding; partially remodeling, furnishing and refurnishing, and equipping and re-equipping thebuilding; acquiring and installing instructional technology and instructional technologyequipment; and preparing, developing, equipping, and improving playgrounds and the site?The following is for informational purposes only:The estimated millage that will be levied for the proposed bonds in 2026 is 4.68 mills ($4.68 oneach $1,000 of taxable valuation). The maximum number of years the bonds of any series maybe outstanding, exclusive of any refunding, is thirty (30) years. The estimated simple averageannual millage anticipated to be required to retire this bond debt is 4.75 mills ($4.75 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 $0. The total amount of qualifiedloans currently outstanding is $0. The estimated computed millage rate may change based onchanges in certain circumstances.(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.)
