Road Improvements Bond Proposal

At the November 5th, 2024, General Election, voters will be asked to consider a Bond Proposal to fund a road improvement and infrastructure bond proposal.

At the regular meeting of the Village Council on August 6, 2024, the Village Council approved resolution 2024-08 Submitting Road Improvements and Infrastructure Bond Proposal. This resolution has since been submitted to the Monroe County Clerk to be added on the General Election taking place on November 5, 2024. This millage bond, if approved, would allow the Village to borrow money in an amount not to exceed $5,955,000 for the purposes of acquiring and constructing road improvements in the Village including related water, sewer, stormwater and sidewalk improvements. The two roads slated for full reconstruction are Dunham and Penfield Streets. If approved, the estimated millage to be levied in 2025 is 2.38 mills ($2.38 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 2.27 mills ($2.37 per $1,000 of taxable value). The unlimited tax general obligation bond shall not exceed ten (10) years from the date of issue. You can find below the exact ballot language that voters will see on the November 5, 2024, General Election ballot.

Road Improvements and Infrastructure Bond Proposal

Shall the Village of Dundee, County of Monroe, Michigan, borrow the principal sum of not to exceed Five Million Nine Hundred and Fifty Five Thousand Dollars ($5,955,000), and issue its unlimited tax general obligation bonds, payable in one or more series, not to exceed ten (10) years from the date of issue of each series, to pay the cost of acquiring and constructing road improvements in the Village, including related water, sewer, stormwater and sidewalk improvements. If approved, the estimated millage to be levied in 2025 is 2.38 mills ($2.38 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is 2.37 mills ($2.37 per $1,000 of taxable value).

YES o

NO o

Review Resolution 2024-08 Submitting Road Improvements and Infrastructure Bond Proposal