Bond History
In June 9, 2003, the Waterford School District asked voters to approve a $100 million bond issue. Proceeds of this bond are to be used for defraying all or part of the cost of erecting, completing, remodeling, or equipping or re-equipping school buildings, including classrooms, swimming pools, structures, athletic fields, or other facilities; furnishing or re-furnishing new or remodeled school buildings; preparing, developing, or improving sites, for school buildings, including classrooms, swimming pools, structures, athletic fields, or other facilities; acquiring school busses, and acquiring, installing, equipping or re-equipping school buildings for technology.

Bonds Issued To date:

  1. 2003 Series I issued Summer 2004 for
    $20,000,000
  2. 2003 Series II issued for Summer 2005 for
    $25,000,000

Remaining Bonds Available: $55,000,000

The decline of the housing market, beginning in the mid-2000s, caused a temporary halt to the issuance of the remaining $55 million due to the accompanying decline of tax revenues and the reluctance of the District to raise the millage rate to compensate. At the recommendation of
District administration, the Board of Education recently approved a proposal to raise our debt millage rate to 7.0 from the projected 6.0 mills for 2013-14, which will enable us to issue another $20 million of the remaining $55 million in bonds in spring.

New Issuance Spring 2013: $20,000,000

Projects

Safety and Security
Create a secure main entry at each school building with vestibule leading directly into the main office and replace all classroom door hardware, providing the ability to lock doors from the inside

Technology
Complete wireless infrastructure in seven remaining buildings, re-wire, remodel existing elementary computer labs, add Interactive Data Projectors in every classroom, equip the secondary tech labs to include three-dimensional printers and state of the art technology tool, and replace 30-year-old phone system and handsets, moving to a unified communications solution Create a centralized data and information storage system

Site Development
Athletic complexes at Kettering & Mott High Schools which include new tracks, stadium bleachers, synthetic turf fields, stadium lights, scoreboards, and tennis courts

Renovations/Remodeling
Window/finish replacement; exterior and interiors doors, roof replacement, restrooms, classrooms, corridor remodeling, parking lots, and mechanical

Equipment &Furnishings
Bus replacement, classroom furniture, maintenance equipment, and musical instruments