The following is actual language that will appear on the November 6, 2007 ballot.

Shall the Saginaw Township Community School District, County of Saginaw, Michigan borrow the principal sum of not to exceed Thirty-Nine Million Eight Hundred Ninety-Five Thousand Dollars ($39,895,000) and issue its general obligation unlimited tax bonds for the purpose of defraying the cost of making the following improvements:

•·   remodeling existing School District buildings, including energy conservation, climate control, safety and security improvements;
•·   constructing additions to existing School District buildings, including secure elementary and middle school entrances;
•·   acquiring and installing technology infrastructure and equipment in and connecting School District buildings;
•·   improving and developing School District sites, including parking and outdoor athletic facilities and structures; and
•·   equipping and/or reequipping and furnishing and/or refurnishing School District buildings?

YES o 
NO  o

The School District estimates that the debt millage levy required to retire the bonds of the District currently outstanding and proposed by this ballot proposal will be 2.50 mills ($2.50 per $1,000 of taxable value). The estimated millage to be levied in 2008 to service this issue of bonds is 1.69 mills ($1.69 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds of this issue is 1.76 mills ($1.76 per $1,000 of taxable value).  The bonds may be payable in not to exceed twenty-one (21) years from the date of issue.  If the School District borrows from the State to pay debt service on the bonds of this issue, the School District may be required to continue to levy mills beyond the term of the bonds to repay the State.

(Under state law, bond proceeds may not be used to pay teacher or administrator salaries, routine maintenance costs or other School District operating expenses.)