Voter-approved school bonds can be either qualified or non-qualified through the Michigan Department of Treasury
One is not better than other, with each offering advantages and disadvantages.
State Qualified Bonds have a lower interest rate because they combine the district's credit rating with the state's rating. Work conducted using Qualified Bonds must be paid at the Prevailing Wage rate, which is often higher than the competitive rate in rural areas.
Non-Qualified Bonds have a higher interest rate and are based only on the district's credit rating. This means they would cost more by comparison to qualified bonds, but Prevailing Wage is not required, meaning that local competitive wage may make the project cheaper overall to complete.
We are currently going through the qualification process, but the decision about which format is financially better does not need to be made until the bonds go out for sale, after an approval by the voters.
2025 BOND PROJECT
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In August 2025, Au Gres-Sims residents will be asked to vote on a millage proposal for the district. The proposal will include a renewal of expiring mills, as well as 1.0 mill increase. Combined, the project is aimed at generating funds to restore old facility components, update the safety of visitors and athletes to our stadium, and construct a new community center building.
We encourage you to check back here frequently for more information about the bond project.
QUALIFIED VS. NON-QUALIFIED BONDS
Renderings and layouts are presented in concept only. The district is continuing site visits and developing plans regarding models that will best fit our needs. This includes what is possible, as well as most practical, effective, and efficient for our money.
Whether or not the district gets a dome community center facility will be decided by the voters on August 5, what goes into the facility will be open for post-ballot community input and discussion.
