Sinking fund millage on ballot
L’ANSE — A sinking fund millage is on the ballot for L’Anse Area Schools this November.
When residents in the L’Anse Area School District head to the polls on Election Day, they will decide whether to approve a 1 mill sinking fund millage.
The district will not be borrowing any money, but instead putting aside the money levied each year to address different projects.
L’Anse Area Schools Superintendent Susan Tollefson said, “It’s really a unique opportunity for us because we were able to refund our bonds from our 2000 construction, and we lowered our interest rate—cut it in about half from four percent to about two percent in February of 2016. So we have a chance to capture some of the savings from that. We can assess a sinking fund and really not raise the debt levy above what it was in 2015.”
If approved, the district will be able to replace the roof on the high school and improve energy efficiency with updates to the boilers and ventilation systems and replacing old windows.
Other infrastructure needs, like flooring and restrooms, would also be addressed.
Tollefson said, “We’re looking at updates to even flooring and tile and carpeting that need to be replaced throughout the building; some needs out on our playground and updates to restrooms within the building.”
The millage is for up to 12 years and a resident with a $100,000 home would be paying about $50 a year, if approved.
The election is November 8th.