Proposal to Renew the Millage Levy to Fund the Public Safety Retirement System - Oak Park City

This proposal, if approved, will allow the City of Oak Park to renew the millage levy not to exceed seven (7) mills per year for a period of seven (7) years to fund the retirement system for public safety officers pursuant to Act 345 of 1937. Shall the City of Oak Park, Oakland County, Michigan, be authorized to renew the millage levy not to exceed seven (7) mills in any year on each dollar ($7.00 per $1,000) of the taxable value of all property in the City, to fund the retirement system for public safety officers pursuant to Act 345 of 1937, for a period of seven (7) years, from 2020 through 2026, inclusive? It is expected that approximately seven (7) mills will be levied in 2020 and will raise the sum of approximately ($3,500,000.00) Dollars. A portion of the revenue collected may be subject to capture by the City of Oak Park Brownfield Redevelopment Authority and Corridor Improvement Authority