Building and Site Sinking Fund Millage Replacement Proposal - School District of the City of Hazel Park

This proposal, if approved by the electors, will replace and extend the authority last approved by the electors in 2016 and which expires with the 2026 levy for the School District to levy a building and site sinking fund millage. 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 millage 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 School District of the City of Hazel Park, County of Oakland, Michigan, be authorized to levy 3 mills ($3 on each $1,000 of taxable valuation), for a period of ten (10) years, being the years 2019 to 2028, inclusive, to create a building and site sinking fund to be used for the construction or repair of school buildings, school security improvements, the acquisition or upgrading of technology or for other purposes, to the extent permitted by law? This millage would provide estimated revenues to the School District of approximately Nine Hundred Thirty Seven Thousand Eight Hundred Eighty Five ($937,885) Dollars during the 2019 calendar year, if approved and levied.