February 9, 2016 Special Election Voters’ Guide Statements

EXPLANATORY STATEMENT - PROPOSITION NO. 1
Passage of Proposition No. 1 would allow the levy of $6,218,558 in property taxes within Mercer Island School District No. 400 for collection in 2017, the levy of $6,218,558 for collection in 2018, the levy of $6,418,558 for collection in 2019, the levy of $6,518,558 for collection in 2020, the levy of $6,218,558 collection in 2021, and the levy of $6,838,558 for collection in 2022 to modernize its educational facilities and programs.
 
If authorized by the voters, and based on projected assessed valuation information, estimated levy rates per $1,000 of assessed value would be $0.59 (2017 collection); $0.56 (2018 collection); $0.56 (2019 collection); $0.55 (2020 collection); $0.50 (2021 collection); $0.54 (2022 collection). The exact levy rate shall be adjusted based upon the actual assessed value of the property within the District at the time of the levy.
 
EXPLANATORY STATEMENT - PROPOSITION NO. 2
Passage of Proposition No. 2 would allow the levy of $750,000 in property taxes within Mercer Island School District No. 400 for collection in 2017, to enable the District to acquire school buses to meet projected population growth and allow for the retirement of older and more costly to operate buses. In accordance with Resolution No. 639 approving this proposition, these taxes would be deposited in the District’s Transportation Vehicle Fund to pay for the purchase of such new and replacement school buses. If authorized by the voters and based on projected assessed valuation information, estimated levy rates per $1,000 of assessed value would be $0.07 (2017 collection). The exact levy rate shall be adjusted based upon the actual assessed value of the property within the District at the time of the levy.
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