Antrim County - Elk Rapids District Library Bond Proposal
Shall the Elk Rapids District Library, formed by the Village of Elk Rapids, the Township of Milton, and the Township of Elk Rapids, County of Antrim, State of Michigan, borrow the sum of not to exceed Three Million Five Hundred Forty Thousand Dollars and NO/100 ($3,540,000.00) and issue its general obligation unlimited tax bonds therefor, for the purpose of paying all or a portion of the costs to construct, install, acquire, renovate, rebuild, remodel, furnish and equip a new library location at 8980 Cairn Highway in the Village of Elk Rapids, perform site improvements thereto (including parking areas, sidewalks and landscaping), pay costs of issuance of the bond, and pay 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 0.36 mill (which is equal to $0.36 per $1,000 of taxable value); and the estimated simple average annual millage required to retire the bonds over twelve (12) years is 0.36 mill ($0.36 per $1,000 of taxable value).
