CHARTER TOWNSHIP OF CALEDONIA -- Township Library Bonds

Shall the Charter Township of Caledonia issue its general obligation unlimited tax bonds in one or more series in an amount not to exceed Two Million Eight Hundred Twenty-five Thousand Dollars ($2,825,000) for the purpose of paying the cost of acquiring, constructing, furnishing and equipping a new Township library building in the Township? The bonds will be outstanding a maximum of 21 years, exclusive of refunding. It is estimated that it will be necessary to levy .3265 mill ($.3265 per $1,000 of taxable value) to pay debt service on the bonds in the first year of the levy, and to levy an estimated average of .3797 mill ($.3797 per $1,000 of taxable value) for debt service, until the bonds are retired. The tax revenue received by the Township as a result of the unlimited tax pledge will be disbursed to the Charter Township of Caledonia to repay the proposed bonds.