City of New Baltimore Municipal Facilities Bond Proposal
Shall the City of New Baltimore, County of Macomb, Michigan, borrow the principal sum of not to exceed Seventeen Million Forty Thousand Dollars ($17,040,000) and issue its general obligation unlimited tax bonds, in one or more series, payable in not to exceed twenty (20) years from the date of issuance of each series, for the purpose of paying all or part of the costs of (1) constructing an addition to and renovating, furnishing, equipping and re-equipping the existing City Hall and fire station building to be used as a fire station and recreation center; and (2) acquiring, renovating, furnishing and equipping a new City Hall building, together with all related site improvements, appurtenances, attachments and ancillary facilities therefor? If approved, the estimated millage to be levied in 2027 is 1.7590 mills ($1.7590 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 1.7569 mills ($1.7569 per $1,000 of taxable value).
