Proposal Text

Burlington Township -- Road Improvement Bond Proposal

Shall the Township of Burlington, County of Calhoun, Michigan, borrow the principal sum of not to exceed Two Million Three Hundred Sixty-Five Thousand Dollars ($2,365,000) and issue its general obligation unlimited tax bonds, in one or more series, payable in not to exceed sixteen (16) years from the date of issue of each series, for the purpose of paying the cost of acquiring, constructing, furnishing and equipping improvements to local roads throughout the township, including necessary rights-of-way, and appurtenances and attachments thereto? If approved, the estimated millage to be levied in 2017 is 3.86 mills ($3.86 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 3.91 mills ($3.91 per $1,000 of taxable value).