Woodhaven City Bond Measure (August 2010)
This measure seeks to create a bond in the amount of $12 million in order to pay the city's share of a railroad underpass. A levy of $1.18 per $1,000 of assessed property would be implemented to pay for the bond if approved.
The question on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|Shall the City of Woodhaven, County of Wayne, Michigan, borrow the sum of not to exceed Twelve Million Dollars ($12,000,000) and issue in one or more series its unlimited tax general obligation bonds therefore, payable in not to exceed twenty-five (25) years from the date of issuance, for the purpose of paying the City’s share of the cost of acquiring, constructing and installing a railroad underpass at Allen Road in the City, together with all appurtenances and attachments related thereto and the costs of issuance of said bonds? The estimated mills to be levied in the year 2011 if the bonds are issued is 1.1839 mills ($1.1839 per $1,000 of taxable value) and the estimated average millage rate required to retire the bonds, if issued, is 1.4046 mills ($1.4046 per $1,000 of taxable value).|