DeWitt Library District Bond Proposal (May 2013)

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A DeWitt Library District Bond proposal was defeated on the May 7, 2013, election ballot in Clinton County, which is in Michigan.

If approved, this measure would have authorized the DeWitt Library District to increase its debt by $13.65 million through issuing general obligation bonds in that amount in order to fund the acquiring, constructing, equipping and furnishing of a library building. The estimated average annual property tax rate needed to repay these bonds in the required 25 years is 1.15 mills ($1.15 per $1,000 of assessed valuation).[1]

Election results

Dewitt Library District Proposal 2
ResultVotesPercentage
Defeatedd No182060.50%
Yes 1188 39.49%
These results are from Clinton County Elections Office

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 DeWitt District Library, County of Clinton, Michigan, borrow the sum of not to exceed $13,650,000 and issue its general obligation unlimited tax bonds therefor, payable in not to exceed twenty-five (25) years from the date of issuance, for the purpose of paying all or part of the costs of acquiring, constructing, equipping and furnishing a library building and acquiring and improving the site therefor? The estimated millage to be levied in 2013 is 1.40 mills ($1.40 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 1.15 mills ($1.15 per $1,000 of taxable value).[1]

See also

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