2 proposals in Alger County
MARQUETTE — There will be two millage proposals for the city of Munising on the Nov. 7 ballot, with one of the millages applying to multiple municipalities in Alger County.
The millage specific to Munising voters is a proposal seeking to restore a portion of the city’s original 20-mill operating millage, which has been reduced to about 17.99 mills by Headlee Amendment rollbacks.
The Headlee override proposal, if passed by voters, would restore 1.981 mills to the city’s original authorized charter rate for each year for five years, 2018 to 2022, all inclusive. One mill is equal to $1 per $1,000 of taxable property value. The estimate of the revenue the city will collect if the millage is authorized and levied in 2018 is approximately $97,350, according to the proposal.
The other proposal focuses on public schools borrowing money and will be on the ballot in the city of Munising, and Au Train, Grand Island and Munising townships.
Munising Public Schools is asking to borrow the sum of $7.25 million and issue general obligation unlimited tax bonds for remodeling, equipping and furnishing school buildings, as well as acquiring and installing instructional technology in school buildings.
The estimated millage that will be levied for the proposed bonds in 2018 is 2.29 mills, $2.29 on each $1,000 of taxable valuation. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is 26 years. The estimated simple average annual millage anticipated to be required to retire the bond debt is 2.27 mills.
The school district does not expect to borrow from the state to pay debt service on the bonds, and the total amount of qualified bonds and loans currently outstanding is zero.
Jaymie Depew can be reached at 906-228-2500, ext. 206. Her email address is firstname.lastname@example.org.