Parks and Recreation Bond Proposal - Parks and Recreation Bond Proposal

Shall the City of Birmingham, Oakland County, Michigan, borrow the principal sum of not to exceed Eleven Million Two Hundred Fifty Thousand Dollars ($11,250,000), and issue its unlimited tax general obligation bonds in one or more series, payable over a period not to exceed twenty-one (21) years from the date of issuance, to be used by the City for the purpose of paying all or part of the cost of acquiring, constructing, furnishing, equipping and renovating parks and recreation improvements, including parks, playgrounds and trail system improvements and renovations to the Birmingham Sports Ice Arena, including all appurtenances and attachments? The estimated millage to be levied in 2021 is 0.0485 mills ($0.05 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 0.2064 mills ($0.21 per $1,000 of taxable value).