Plymouth Street Improvement Bond discussion Monday
Oct. 26, 2019 PLYMOUTH VOICE.
Plymouth Michigan News
On Nov. 5, Plymouth voters will be asked to approve a 10-year $12,280,000 bond question to be used for the acquiring and constructing of street improvements throughout the city consisting of paving, repaving, resurfacing, reconstructing and improving streets. If approved, the estimated millage to be levied is 1.2721 mills or $1.27 per $1,000 of taxable property value.
City Commissioners will be on hand to provide information and answer questions on Monday, October 28 at 10:30 a.m. and 6:30 p.m. for a Coffee with a Commissioner event at the Plymouth Cultural Center, 525 Farmer St.
Street Improvement Bond Proposal – ballot language:
Shall the City of Plymouth, County of Wayne, Michigan, borrow the principal sum of not to exceed Twelve Million Two Hundred Eighty Thousand Dollars ($12,280,000), and issue its unlimited tax general obligation bonds, in one or more series, payable in not to exceed ten (10) years from the date of issue of each series, to pay the cost of acquiring and constructing street improvements throughout the City, consisting of paving, repaving, resurfacing, reconstructing and improving streets, including curb, gutter, sidewalk, drainage, streetscape, traffic signalization, crosswalk and related improvements? If approved, the estimated millage to be levied in 2020 is 1.2721 mills ($1.27 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 2.1250 mills ($2.13 per $1,000 of taxable value).