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Local News

Hastings Schools Board of Education approves two millage requests for Nov.7 ballot

The Hastings Area School System’s Board of Education unanimously approved two millage proposals for the Nov. 7 general election ballot at it’s semi-annual organizational and regular board meeting Monday. Trustee Robert Pohl was absent.

 

The first proposal asks for $10.5 million for remodeling, equipping, refurnishing school buildings, adding instructional technology to school buildings and improving the middle school site.

The school gave additional information on the request: The estimated millage levied for the proposed bonds in 2018 is 0.85 mill for a -0- mill net increase over the prior year’s levy. The request is for 15 years; the estimated annual millage is 1.53 mills.

 

The second proposal is $19.5 million for remodeling, equipping and refurnishing school buildings, adding instructional technology in school buildings, building a new transportation office building, stadium concession building and press box, purchasing buses and upgrading athletic fields, facilities and sites.

 

The additional information: The estimated millage is 1.35 mills, a 0.50 percent net increase over the prior year’s levy, for 25 years. The estimated simple average annual millage required to retire the bond debt is 1.87 mills.

 

The district expects to borrow from the State School Bond Qualification and Loan Program to pay debt service on those bonds; the estimated total principal amount is $1,620,726  with a total interest of $670,036. The estimated rate for such a levy is 7 mills for 13 years.

 

“I would just like to point out that the reason we are going back so quickly is because we promised our voters on the last campaign when we had to make several cuts, that when the timing was right and there was a good value for the  voters in the district, we would do so and in order to capitalize on the school bond loan fund, we have a window and we thought we needed to bring it back to our voters,” board President Luke Haywood said.

 

“I wanted to also point out that this is a November election, not to be confused with the August operating millage which generates three million to keep our doors open…a non-homestead tax, so what we’re talking about here is a special election in November,” he said.

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