Will School Improvements Be In the IASD's Future?

IRONWOOD, MI - Sunday, May 03, 2009 - On Tuesday, May 05, 2009, Ironwood registered voters will be asked to support an addition and renovation plan for the Luther L. Wright High School and renovations to other schools in the district. The ballot language is as follows:

Shall Ironwood Area Schools of Gogebic County, Gogebic County, Michigan borrow the sum of not to exceed Six Million Eight Hundred Seventy Thousand Dollars ($6,870,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of:

erecting, furnishing, and equipping an addition to the high school building; partially remodeling re-furnishing, and re-equipping school buildings; acquiring and installing educational technology improvements; purchasing school buses; and redeveloping and improving playgrounds; play fields; athletic facilities and sites?

The following is for informational purposes only:

The estimated millage that will be levied for the proposed bonds in 2009, under current law, is 2.68 mills ($2.68 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, will not exceed twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 3.11 mills ($3.11 on each $1,000 of taxable valuation).

If the school district borrows from the State to pay debt service on the bonds, the school district may be required to continue to levy mills beyond the term of the bonds to repay the State.

(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 operational expenses.)

More information, including a brief history, an overview of the plans, frequently asked questions, questions and answers, and the exact ballot language can be found at http://ironwood.intdesigns.com/.