Shall the City of East Grand Rapids, Kent County, Michigan borrow the principal amount of not to exceed Six Million Nine Hundred Forty Thousand Dollars ($6,940,000) and issue its general obligation unlimited tax bonds for all or a portion of that amount in one or more series payable over not to exceed thirty (30) yers from issuance to pay the cost of renovating, expanding, furnishing and equipping the Library and City Hall and related facilities to create a Community Center Complex, to be used for library, parks and recreation, administrative and other public purposes, including the costs of demolition, site work, site improvements and parking improvements and appurtenances, and to pay capitalized interest and the costs of issuing the bonds, with the first tax levy for repayment levied in July 2004?