Brighton City Community Improvement Bond Proposal (November 2012)
This measure proposed to authorize the City of Brighton to issue up to 5,690,000 in general obligation bonds to be repaid in not more than 20 years in order to fund construction, furnishing and equipping of residential streets. The estimated average property tax to be levied to pay this debt was 1.1233 mills ($1.1233 per $1,000 of assessed valuation)
The following are election results for the measure:
|Brighton City Community Improvement Bond Proposal|
Text of measure
Language on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|“||Shall the City of Brighton, Michigan, borrow the principal sum of not to exceed Five Million Six Hundred Ninety Thousand Dollars ($5,690,000) in one or more series payable in not to exceed twenty (20) years from the date of issue, and issue its general obligation unlimited tax bonds for the purpose of paying part of the cost to acquire, construct, furnish and equip residential street improvements, including curb and gutter improvements, neighborhood infrastructure improvements, sidewalk improvements, police equipment and camera monitoring systems, together with all necessary appurtenances and attachments? The estimated millage to be levied in 2013 is 0.4820 mills ($0.48 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 1.1233 mills ($1.12 per $1,000 of taxable value).||”|