Ludington schools voters may decide on new buses

February 11, 2013

vintique_imageLUDINGTON – The Ludington Area Schools board of education will begin discussing a ballot request for a new sinking fund and transportation bond during its regular meeting Monday afternoon.

The newest school bus is 9-years-old. Interim Superintendent David Killips, in a memo to the board, is proposing two options to replace 20 buses of 8 years.

One option would be a bond for 9 years while another would be a bond for 10 years. Both options would include a .25 mil levy for the sinking fund. Neither would increase the tax rate and possibly could allow for a small decrease in the rate, Killips wrote.

In 2012 LAS assessed 1.94 mils in taxes: .94 mils from the 2003 construction bond; .5 mil for the 2012 technology bond and .5 mil for the sinking fund, which expired in 2012.

“Legislation restricts the use of a sinking fund and a transportation bond,” Killips said. “A sinking fund can only be used for ‘the purchase of real estate for, and the construction or repair of, a school building.’ The transportation bond will be limited in scope by the approved ballot language, usually for the purchase of buses.”

If the board would like the proposals to be on the May ballot, it must make a decision prior to Feb. 26 .

“The options under consideration would not extend debt beyond the current payoff date in 2022-23 school year,” Killips said.

Discussion has taken place with the finance committee with a recommendation to bring

forth the options to the board. The board may take action on the proposal Monday, during the meeting which begins at 6 p.m. At the central business office.

The board agenda can be downloaded here.






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