So Detroiters read the message below and I hope that everyone votes “NO” on Proposal S because it is the right thing to do in a time when our youth need to be educated better rather than simply being given new or modernized schools that don’t guarantee that our youth will be educated any better than they are already being educated. Detroit wake up and realize what Proposal S really means.
Proposal S
BOND PROPOSAL
Shall the School District of the City of Detroit, County of Wayne, Michigan borrow the principal sum of not to exceed Five Hundred Million Five Hundred Forty Thousand Dollars ($500,540,000) and issue its unlimited tax defraying cost of:
Constructing new replacement buildings and or additions to existing buildings.
Remodeling existing buildings, including energy conservation, safety and security improvements.
Acquiring, improving and developing sites, including playgrounds, playfields and outdoor athletic facilities in the School District.
Furnishing, refurnishing, equipping and requipping School District buildings; and
Acquiring and installing instructional technology equipment in and connecting School District buildings?
The estimated millage to be levied in 2010 to service this issue of bonds is 3.82 mils ($3.82 per $1,000 of taxable value) and the estimate simple average annual millage rate required to retire the bonds of this issue is 2.56 mils ($2.56 per $1000 of taxable value).
The debt millage levy required to retire all bonds of the School District currently outstanding and proposed by this ballot proposal is currently estimated to remain at or below 13.0 mils.
The bonds may be issued in multiple series, payable in the case of each series in not to exceed thirty (30) years from the date of issue of each series. If the School District borrows from the State to pay debt service on the bonds of this issue, the School District may be required to continue to levy mils beyond the term of the bonds to repay the State.
(Under State law, bond proceeds may not be used to pay teacher or administrator salaries, routine maintenance or repair
costs or other School District operating expenses )
YES
NO
VOCABULARY WORDS DEFINED FROM
THE AMERICAN HERITAGE DICTIONARY
Bond – A certificate of debt issued by a government or corporation of the original payment of the
original investment plus interest by a specified future date.
Bondage - The condition of a slave or serf; servitude.
Borrow – To obtain or receive (something) on loan with the intent to return it.
Debt – The condition of owing (indebtedness – obligated to another beholden).
Defray – To undertake the payment of pay.
Levy – To impose or collect (a tax). To confiscate property.
Principal – The (capital-wealth in the form of money or property) of a financial holding as distinguished from the revenue
from it. A sum of money owed as a debt, upon which interest is calculated.
* Five Hundred Million Five Hundred And Forty Thousand Dollars ($500,540,000)*
Tax – A contribution for the support of a government required of persons, groups, or businesses, within the domain of the
government. An excessive demand; strain.
Friday night October 23, 2009 on The Jay Leno Show with special guest Michelle Obama. Jay did a skit with Arsenio Hall entitled “ This Is What They Said This Is What They Meant ” We all have heard what Rob Bobb has been saying about the benefits of Proposal S. But do we know what he means and who is really going to benefit from this proposal us or him.
Upon carefully reading, repeatedly reviewing and defining words to make sure I understand exactly what’s being presented.
It sounds to me like he is saying;
I want you dumb ass illiterate Detroiters to borrow a half billion dollars from the State of Michigan, give me the authority to do whatever I want to do with your money. Like giving no bid contracts to my associates and friends, which you have already seen me do. Leave town with Jennifer (I mean leave town when Jennifer’s term as Governor is over.) And we have spent up all of the money you borrowed for me. Keeping you, your children and possibly your children’s children in bondage/debt for the next 30 years or longer to the State Of Michigan.
--Adecious
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