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Proposal Text
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Shall the charter Township of Kalamazoo, County of Kalamazoo, Michigan, borrow the principal sum of not to exceed Nine Million Seven Hundred Fifty Thousand Dollars ($9,750,000) and issue its general obligation tax bonds, in one or more series, payable in not to exceed eleven (11) years from the date of issue of each series, for the purpose of paying the cost of acquiring, constructing, furnishing and equipping road improvements in the township, including the necessary rights-of-way, sidewalks, proper drainage facilities and appurtenances and attachments thereto? If approved, the estimated millage to be levied in 2015 is 1.30 mills ($1.30 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 2.51 mills ($2.51 per $1,000 of taxable value).
