The Owosso Public Schools Board of Education, at their Monday, July 27 meeting, voted to put a $49.6 million bond issue on a Nov. 3 special election ballot. The proposal will provide funds to convert the high school into a combined middle and high school, equip school buildings with air conditioning and building security improvements, add instructional technology and purchase additional school buses.
After voters turned down the previous bond proposal in February, the district hired a professional polling company to determine the best course of action that would provide the needed facilities for the district. The results of the polling established that the proposed new pool was an area of concern for voters. As a result, the pool was removed from the current proposal and efforts were made to scale down plans while still providing needed facility upgrades. This new proposal went through the State’s pre-qualification process to ensure that the resulting facilities do not overreach the needs of the district.
The $49.6 million bond proposal will carry an estimated 5.50 mills ($5.50 on each $1,000 of valuation), with an average of 5.14 mills, and a maximum of 30 years that the bonds may be outstanding. The district currently is debt free and does not expect to borrow from the State to pay debt service on the bonds. Under state law, expenditure of bond proceeds may not be used for operating expenses.
