is the public explanation of the cost for the 2025 Midland public school's Bond misleading?
It's important to distinguish between the principal amount borrowed and the total repayment amount when discussing bond proposals
in the 2025 bond proposal application (Form 3881) that Midland Public SCHOOLS submitted TO the State of Michigan, it clearly states the total proposed debt is $487 million, essentially a half billion dollar debt!
but in public we've only heard about the
$285 Million value
CMST asked for the full 95 page mps application form and mps finally provided it, so you are welcome to read it for yourself on the CMST resources page or on the MPS website
wait there's more!
still one more financial factor, somewhat hidden, is the variability of the millage rate which can change due to the impact of inflation, interest rates, property values, housing market volume & population changes
what about the millage rate?
in reality, the only thing that MPS can promise with certainty is the bond millage rate for the first year, after that the millage rate for remaining years are just projections that are subject to change
does a half billion dollar debt seem excessive and an unnecessary burden while The local economy is already struggling?
Tell the Midland Public School Board to Reassess Priorities!
Vote NO on May 6th to a Half Billion Dollar Debt!
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