School Proposition 3

         

                                           PROPOSITION III
         
         
                                          OFFICIAL BALLOT
         
                                      MANISTIQUE AREA SCHOOLS
         
                                    SCHQOLCRAFT COUNTY, MICHIGAN
         
                                          FEBRUARY 26, 2002
       
          
              INSTRUCTIONS:  To vote in favor of a proposal, place a cross (x) or check
              mark (/) in the square to the right of the word "YES"; to vote against a 
              proposal, place a cross (x) or check mark (/) in the square to the right of
              the word "NO". Before returning the ballot, fold the ballot so that the
              face of the ballot is not exposed and so that the numbered corner is visible.

              III.                BONDING PROPOSAL
         
              Shall Manistique Area Schools, Schoolcrafl County, Michigan, borrow the sum of
              not to exceed Two Million Three Hundred Sixty-Five Thousand Dollars ($2,365,000)
              and issue its general obligation unlimited tax bonds therefor, for the purpose
              of:
         
                        partially remodeling, refurnishing and re-equipping the
                        middle/high school; acquiring and installing educational
                        technology improvements and developing and improving the
                        site?
         
                         The following is for informational purposes only
         
              The maximum number of years the bonds may be outstanding, exclusive of any
              refunding, will not exceed twenty-five (25) years. The estimated millage that
              will be levied for the proposed bonds in the year 2002 is 3.21 mills ($3.21
              on each $1,000 of taxable valuation). The estimated simple average annual
              millage anticipated to be required to retire this bond debt is 2.98 mills
              ($2.98 on each $1,000 of taxable valuation).
         
              (Pursuant to State law, expenditure of bond proceeds must be audited, and the
              proceeds cannot be used for repair or maintenance costs, teacher, administrator
              or employee salaries, or other operating expenses.)
         
         
                                                        
                                                YES    (  ) 
                                                        
         
         
                                                 NO    (  )
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