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Board sets 2025 tax rates after PFM advisers outline debt-millage options
Summary
PFM advisors walked the board through bond servicing, call features and recommended a 2.5-mill minimum debt levy; board approved formal tax rates and a 2.5 mill debt millage is referenced in planning.
The Midland Public Schools Board of Education received a presentation from municipal finance advisers and approved the district's formal 2025 tax resolution at its Sept. 8 meeting, adopting the operating and debt millage rates used to complete tax forms for local taxing agencies. Brad Killian, director with PFM Financial Advisors, and Carrie Blanchard, managing director with PFM, briefed the board on the school bond financing process, state prequalification rules and how debt millage is calculated. "One of the highlightsis that the State of Michigan School Bond Loan Fund program requires that the bonds need to be repaid within 120% of the useful life of the…
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