Saugatuck-Douglas District Library

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Shall the Saugatuck-Douglas District Library, a district library formed by the City of the Village of Douglas; the City of Saugatuck; and the Township of Saugatuck, County of Allegan, State of Michigan, borrow the sum of not to exceed Four Million Three Hundred Fifty Thousand Dollars ($4,350,000) and issue its general obligation unlimited tax bonds, in one or more series, for all or a portion of that amount, for the purpose of acquiring and constructing a new library building together with site work, parking facilities, fixtures, furnishings, equipment, and all related appurtenances and related work?

The maximum number of years the bonds may be outstanding, exclusive of refunding, is twenty-five (25) years; the estimated millage that will be levied to pay the proposed bonds in the first year is 0.4221 mills (which is equal to $0.4221 per $1,000 of taxable value); and the estimated simple average annual millage that will be required to retire the bonds over twenty-five (25) years is 0.4271 mills ($0.4271 per $1,000 of taxable value).