We have official ballot language, from this Wednesday’s City Council meeting packet.
BROADBAND BOND PROPOSAL
Shall the City of Holland, Michigan borrow the principal amount of not to exceed $30,000,000 and issue its general obligation unlimited tax bonds for all or a portion of that amount in one or more series payable over not to exceed 25 years from the date of issue of each series for the purpose of financing all or a part of the expansion of the City’s broadband internet transport services, including but not limited to the engineering and design, acquisition, construction, installation and expansion of its fiber optics network and associated facilities, and all work and equipment necessary or incidental to these improvements, including the acquisition of the sites and right-of-ways therefor.
The following is for informational purposes only:
The estimated millage that will be levied for the proposed bonds for the first year of levy is 1.5 mill(s) ($1.50 on each $1,000 of taxable valuation) and the estimated simple average annual millage rate required to retire the bonds is 1.12mills ($1.12 for each $1,000 of taxable value).⬜️ YES ⬜️ NO
If approved, this will go on the August 2 ballot.
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