Frankenmuth City Recreation Bond Measure (August 2012)
This measure sought to issue a bond in the amount of $3.72 million in order to help pay for a constructing and furnishing a new recreational facility as well as make general improvements to the location as needed. It was defeated.
|Frankenmuth Recreation Bond Proposal|
Election Results from:Saginaw County Elections Division
Text of measure
The question on the ballot:
|Shall the City of Frankenmuth, Michigan, borrow the principal sum of not to exceed Three Million Seven Hundred Twenty-Five Thousand Dollars ($3,725,000) payable in not to exceed twenty-six (26) years from the date of issue, and issue its general obligation unlimited tax bonds for the purpose of paying part of the cost to acquire, construct, furnish and equip a new recreation facility and athletic fields, including site acquisition and related site improvements? The estimated millage to be levied in 2013 is 0.90 mills ($0.90 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 0.77 mills ($0.77 per $1,000 of taxable value).|