Ann Arbor Library District Bond Measure (November 2012)
This measure seeks to issue a bond in the amount of $65 million in order to help pay for a new downtown building at the current library location. The bond cost would also cover demolishing the current facility, renting spaces in between construction and costs for furnishings. If approved, a levy of $.56 per $1,000 of assessed value would be levied in the first year then reduced to around $.47 per $1,000 of assessed value for the duration of the bond.
Text of measure
The question on the ballot:
|Shall the Ann Arbor District Library, formed by the Ann Arbor Public Schools and the City of Ann Arbor, County of Washtenaw, State of Michigan, borrow the sum of not to exceed sixty-five million dollars ($65,000,000) and issue its general obligation unlimited tax bonds, in one or more series, payable in not to exceed thirty (30) years from the date of issuance of such bonds, for the purpose of paying all or part of the costs of constructing, furnishing and equipping a new main library building to be located at the current site of the downtown library building, including costs related thereto?|