MAY 2026
BOND PROPOSAL 

Many school districts in the State of Michigan typically seek approval for bond proposals every 5-10 years. This allows for significant building improvements to occur and keep district facilities current. The last successful bond proposal passed in the Hopkins Public Schools District was in 2007.

Due to the size and scale of school buildings, maintenance, updates, and replacement of facilities are costly and often not possible through the traditional funding received by school districts. Our district has a number of important facility needs that require large sums of money to complete. The Board of Education has determined that a bond proposal is its preferred approach to making the significant updates and improvements needed at HPS.

A school bond is a voter-approved funding tool that allows a public school district to borrow money by issuing bonds. The funds raised are used to pay for major building improvements and other long-term capital projects, such as constructing or renovating school facilities. The bonds are repaid over time, typically through property taxes.

Michigan public schools receive most of their operating funding from the state on a per-pupil basis, meaning districts receive a set amount of funding for each student enrolled. However, the State of Michigan does not provide funding for school facility improvements. Those costs are paid for locally through property taxes.

School districts have two primary tools to fund facility improvements: levying a sinking fund or asking voters to approve a bond.

No. By law, bond funds cannot be used for employee salaries or benefits, student programming, repair or maintenance, or other operating expenses. Bond funds must only be used for purposes specified in the ballot language, and as required by state law, they must be independently audited.

If the bond proposal is approved, there is no projected changes to the currently levied millage.

A mill is equal to $1 per every $1,000 of taxable property valuation (not the market value of a home; homeowners can refer to their latest assessment for their home’s taxable value).

Facility improvements provide Hopkins Public Schools with safe, appropriate, and modern spaces that better support teaching and learning. Portions of the existing middle school being proposed for replacement are more than 90 years old, and while the building has been carefully maintained, many of its systems are well beyond their intended useful life.

Updating these facilities improves safety, reliability, and day-to-day functionality for students and staff. In addition, modernized spaces allow the district to better support academic programs and offer extracurricular activities within the local community, enhancing student experience while reducing the need to travel outside the district.

Bond proposals are used to finance major capital projects. The district can borrow money upfront and repay the bond over time.

Sinking funds are provided on an annual basis to address the immediate needs of school buildings, facilities, and surrounding school sites. This is intended for short-term improvements rather than major renovations and upgrades.

Hopkins Public Schools currently levies 10.34 mills on property within the district.

The proposal is structured as three separate series of bond sales. The longest series has a proposed repayment term of 25 years and 9 months.

Yes. The district has the option to refund (refinance) bonds to reduce the repayment term or take advantage of improved interest rates. Hopkins Public Schools has successfully refinanced previous bonds multiple times over the past 10 years.

The district is committed to completing the projects within the funds approved by voters. Project budgets include allowances for reasonable construction cost inflation between now and the completion of construction.