Proposal Instance

HTTP 200 OK
Allow: GET
Content-Type: application/json
Vary: Accept

{
    "url": "http://michiganelections.io/api/proposals/8826/?format=api",
    "id": 8826,
    "name": "Caro Community Schools I. Bond Proposal",
    "description": "Shall Caro Community Schools, Tuscola County, Michigan, borrow the sum of not to exceed Thirty-Nine Million Six Hundred Thousand Dollars ($39,600,000) and issue its general obligation unlimited tax bonds therefor for the purpose of:\n\n- remodeling, furnishing and refurnishing, and equipping and re-equipping school buildings and facilities, including for school security\n- erecting, furnishing, and equipping a new bus garage and additions to school buildings\n- acquiring and installing instructional technology\n- equipping, preparing, developing, and improving athletic fields and facilities, playgrounds, and sites; and\n- purchasing school buses?\n\nThe following is for informational purposes only: The estimated millage that will be levied for the proposed bonds in 2024, under current law, is 3.10 mills ($3.10 on each $1,000 of taxable valuation) for a 1.40 mill net increase over the prior year’s levy. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty-eight (28) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 4.80 mills ($4.80 on each $1,000 of taxable valuation).\n\nThe school district expects to borrow from the State School Bond Qualification and Loan Program to pay debt service on these bonds. The estimated total principal amount of that borrowing is $8,548,759 and the estimated total interest to be paid thereon is $10,255,998. The estimated duration of the millage levy associated with that borrowing is 28 years and the estimated computed millage rate for such levy is 7.00 mills. The estimated computed millage rate may change based on changes in certain circumstances.\n\nThe total amount of qualified bonds currently outstanding is $10,765,000. The total amount of qualified loans currently outstanding is $0.(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 operating expenses.)",
    "reference_url": null,
    "election": {
        "url": "http://michiganelections.io/api/elections/56/?format=api",
        "id": 56,
        "name": "May Consolidated",
        "date": "2024-05-07",
        "date_humanized": "Tuesday, May 7th",
        "active": true,
        "proposals_count": 107,
        "positions_count": 19,
        "reference_url": null
    },
    "district": {
        "url": "http://michiganelections.io/api/districts/2358/?format=api",
        "id": 2358,
        "category": "Local School District",
        "name": "Caro Community Schools"
    }
}