Lakeshore Public Schools will seek a renewal of its sinking fund millage on the May ballot.
The board of education this past week voted to place the question before voters with Superintendent Greg Eding saying the sinking fund millage will remain exactly the same, at 1.47 mills. It generates about $1.4 million a year for the district.
“That is maybe one of the most important funds that we have in the district that allows our district to operate and fund some of the projects on a consistent basis and helps us with planning,” Eding said.
The $19.9 million bond approved by voters last year is separate from the sinking fund millage and not to be confused with it. However, Eding said that bond is being used to augment what can be accomplished with the sinking fund.
“Our bond that was passed last year was basically put in place to collaborate with this sinking fund because, basically, our projects were outpacing what our sinking fund was able to cover.”
The sinking fund pays for building work throughout the district.
Trustees are seeking a ten-year renewal of the millage that’s been in place since 2005.
The election will be on May 7.
