By Michelle Armstead
Williamston Post staff writer
The Williamston School Board plans to put a tax proposal on the May ballot to fund school repairs. Voters rejected a similar proposal Nov.6. The state allows the district to establish a sinking fund rather than a bond to pay for school repairs; according the Steve Cook, director of finance, the district’s debt structure does not levy enough millage to cover its current bonds. The last bond issue was given in 2005. In December, it was reported that Williamston High School had cracked floors, leaking ceilings in multiple areas of the school and a broken boiler.
WILLIAMSTON — Williamston Community Schools still have leaking ceilings and a problematic boiler after the rejected Sinking Fund Proposal on the Nov. 6 ballot. The proposal included a levy of 1.00 mill ($1 per $1,000 of taxable valuation) which would raise approximately $385,000 when first levied in 2012, beginning as soon as the proposal was passed. The sinking fund would have had a 10-year duration. Local tax millage is levied on all property located in a local district.
WILLIAMSTON — Williamston Community Schools’ sinking fund proposal was rejected on the Nov. 6 ballot. The proposal included a levy of 1.00 mill ($1 per $1,000 of taxable valuation) which would raise approximately $385,000 when first levied in 2012. The sinking fund would have had a 10-year duration. City of Williamston Precinct 1 was the only area that favored the proposal with 502 for the sinking fund and 468 against.
The School Board of Education in Williamston has approved moving forward with its first Sinking Fund Ballot Proposal. The state allows school districts to establish a sinking fund rather than going the traditional route of a bond. Charles Hasemann, school board member, explains that the sinking fund will be created by gathering the local tax millage levied on all property within a district. “All properties in the district will be taxed,” said Hasemann. The sinking fund will be used to maintain buildings.