A bond proposal is how a public school district asks the community to authorize borrowing money to pay for capital expenditures and improvements. We do not currently have a sinking fund in the GLCS, which is common in many communities, which would provide an additional fund for building and grounds improvements.  Voter-approved bond funds can be spent on site improvements, playgrounds, furnishings, equipment, technology, new construction, building remodeling, additions and other capital needs. Funds that are raised through the bond process cannot be used for operational expenses like employee salaries and benefits, school supplies, textbooks, etc. 

The district has been investigating and studying the current and projected needs of school buildings and educational programs. This review was completed through a master plan study and recent facility assessment studies conducted by both Kingscott and the State of Michigan. Using this information—supported by our district strategic plan initiatives, staff member input, and community engagement, district leadership and the Board of Education are now asking voters to consider the school bond proposal for May of 2026. 

If approved by our community, the GLCS debt millage rate is estimated to remain the same as the current levy with a zero mill increase to property owners over the current millage rate. This graph reflects the zero mill increase for the districts for the $42,000,000 bond in May of 2026. The district is currently in the School Loan Revolving Fund ( SLRF), which is reflected in the graph in yellow. Once the debt obligation with the SLRF is met in 2032, the millage rates will start to slowly decline. 

Michigan law requires that expenditures of bond proceeds undergo an extensive auditing process. Bond funds can only be spent for purposes as approved by the voters. The bond cannot be used for repair or maintenance costs, employee salaries or any other operating expenses. An audit is completed and filed with the Michigan Department of Treasury which ensures compliance.  

A mill represents $1.00 for every $1,000 of taxable value of your property. The taxable value of your property is the same or lower than the state-equalized value and substantially lower (50% or more) than the market value.  

Businesses, second homes and primary homes that are homestead, are treated the same regarding the bond millage. All properties are assessed for school debt millage on their taxable value.  

No. School districts are not allowed to use funds from a bond for operating expenses.  

The district’s architect/engineer will design the proposed projects and prepare construction documents and specifications for the projects. Once they are designed, the Construction Manager and district representative will assemble bid packages and publicly advertise to solicit competitive bids for all work. This is required by law, as outlined in the Revised School Code. The process ensures that the district selects the lowest responsive and responsible bidder. All qualified contractors will have the opportunity to attend a pre-bid meeting to obtain more information and project clarification. All qualified contractors will have the opportunity to participate in the competitive bid process.  

Bond projects typically go through five phases: a design phase, state approval phase, bidding phase, site work phase, and construction and completion phase.  

Per the Michigan Department of Treasury Bulletin 7 and the Revised School Code, every construction fund is required to have an independent audit. The audit must be completed by a CPA utilizing generally accepted auditing standards. A bond construction fund audit report is required after construction is completed as determined by a Certificate of Substantial completion. This report covers the entirety of the construction period from the sale of bonds through completion and must include all activity during the project timeline.