Paw Paw Library District Bond Measure (May 2011)
This measure was approved
- YES 753
- NO 502
This measure sought to issue a bond in the amount of $2.9 million in order to help build, furnish and equip a new library facility as well as make general site improvements as needed. An additional levy of $.44 per $1,000 of assessed property value will be added to local property taxes to help pay for the bond. Library officials noted the increase of library usage and the issue of added content but insufficient room in the current library as reasons behind the need of an addition to the current library. The new library facility will be built on acreage at the back of the current facility which is already owned by the library.
Text of measure
The question on the ballot:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
|Shall the Paw Paw District Library, formed by the Village of Paw Paw and the Paw Paw Public Schools, County of Van Buren, State of Michigan, borrow the sum of not to exceed Two Million Nine Hundred Thousand Dollars ($2,900,000) and issue its general obligation unlimited tax bonds for all or a portion of that amount, payable in not to exceed thirty (30) years from the date of the issue, exclusive of any refunding, for the purpose of acquiring, constructing, furnishing, and equipping a new library facility and related parking and site improvements? The estimated millage that will be levied for the proposed bonds in the first year of the levy is 0.4420 mills ($0.4420 per $1,000 of taxable valuation) and the estimated simple average annual millage rate that will be required to retire the bonds is 0.4412 mills ($0.4412 per $1,000 of taxable valuation).|