Bonding Proposal

Shall Swan Valley School District, Saginaw County, Michigan, borrow the sum of not to exceed Twenty-Five Million Dollars ($25,000,000) and issue its general obligation unlimited tax bonds therefore, in one or more series, for the purpose of:

erecting, furnishing, and equipping additions to school buildings; remodeling, equipping and re-equipping, and furnishing and refurnishing school buildings; acquiring, installing, equipping and re-equipping school buildings for instructional technology; purchasing school buses; erecting, furnishing, and equipping athletic and other structures; and acquiring, preparing, developing, and improving sites?

The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2021, is 2.30 mills ($2.30 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 twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.77 mills ($3.77 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 $10,135,000. The total amount of qualified loans currently outstanding is $-0-. The estimated computed millage rate may change based on changes in certain circumstances.

(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.)

Swan Valley School District

Quick Links

1. How are you able to obtain $25 million in bond proceeds and not raise our taxes?

History and Features

1. What is on the August 3, 2021 ballot?

2. How was the plan developed?

3. What are the features of the August 3, 2021 bond proposal?

4. Why is this bond proposal important for Swan Valley School District?

5. If the bond proposal is approved, what are the next steps?

6. What is the plan to keep facility improvement disruptions to a minimum?

7. What are the reasons for a new auditorium?

Financial and Election Information

1. What is the estimated cost of the bond project?

2. How much would the proposal cost the average taxpayer?

3. Can I deduct these property taxes on my income tax return?

4. I understand that school districts have received federal funds due to the pandemic. Can these funds be used for items listed on the bond project?

5. Please explain what bond program money can cover and what it can’t.

6. What are the key dates leading up to the August 3rd vote?

7. Do I qualify to vote and where do I register?

8. What is the procedure for absentee voting?

9. How will the bond appear on the ballot?

10. Who may I contact if I have additional questions?

Swan Valley School District