Saginaw City Hall Bond Measure (November 2011)
This measure was defeated
- YES 1,560 (30.71%)
- NO 3,519 (69.29%)
This measure sought to issue a bond in the amount of $7 million in order to pay for renovations, furnishing and equipment costs for the City Hall.
Text of measure
The question on the ballot:
|Shall the City of Saginaw, Saginaw County, Michigan, borrow an amount not to exceed Seven Million Dollars ($7,000,000) and issue its general obligation unlimited tax bonds for the purpose of paying the costs of renovating, improving, furnishing and equipping the existing City Hall of the City and improving the site thereof? The maximum number of years the bonds may be outstanding, exclusive of refunding, is 16 years; the estimated millage that will be levied to pay the proposed bonds in the first year that the levy is authorized is 0.6484 mills (which is equal to $0.6484 per $1,000 of taxable value of real and personal property in the City); and the estimated simple average annual millage that will be required to retire the bonds is 1.1916 mills.|