Galesburg/Charleston Memorial District Library Bond Proposal
Shall the Galesburg/Charleston Memorial District Library, formed by the City of Galesburg and Charleston Township, Kalamazoo County, State of Michigan, borrow the sum of not to exceed One Million Six Hundred Ten Thousand Dollars ($1,610,000) and issue its general obligation unlimited tax bonds therefor, for the purpose of paying all or a portion of the costs of renovating, constructing, equipping, and furnishing the existing library facility and improving the site thereof, located at 188 E Michigan Ave, Galesburg, MI 49053, including costs related thereto?The following is for informational purposes only:The maximum number of years the bonds may be outstanding, exclusive of refunding, is twelve (12) years; the estimated millage to be levied to pay the proposed bonds in the first year (2025) is 0.85 mill (which is equal to $0.85 per $1,000 of taxable value); and the estimated simple average annual millage required to retire the bonds over twelve (12) years is 0.85 mill ($0.85 per $1,000 of taxable value)
