PLEASE TAKE NOTICE that the Charter Township of Washington, County of Macomb, State of Michigan (the “Township”), intends to issue and sell its general obligation limited tax bonds pursuant to Act 34, Public Acts of Michigan, 2001, as amended, in an aggregate principal amount of not to exceed Fifteen Million Dollars ($15,000,000), for the purpose of paying all or part of the cost of various capital improvement projects including: 1) acquiring, constructing, furnishing and equipping a new public works facility, and 2) acquiring and constructing sewer pump station upgrades to the Township’s Water and Sewer System, together with all related site improvements, together with all related site improvements.
SOURCE OF PAYMENT OF BONDS
THE PRINCIPAL OF AND INTEREST ON THE BONDS SHALL BE PAYABLE from the general funds of the Township lawfully available for such purposes including property taxes levied within applicable constitutional, statutory and charter tax rate limitations. The Township intends to pay the debt service on the bonds from the net revenues of the Township’s Water and Sewer System.
BOND DETAILS
THE BONDS will be payable in annual installments not to exceed twenty (20) in number for each issue and will bear interest at the rate or rates to be determined at a public or private sale but in no event to exceed the maximum rate permitted by law on the balance of the bonds from time to time remaining unpaid.
RIGHT OF REFERENDUM
THE BONDS WILL BE ISSUED WITHOUT A VOTE OF THE ELECTORS UNLESS A PETITION REQUESTING SUCH A VOTE SIGNED BY NOT LESS THAN 10% OF THE REGISTERED ELECTORS RESIDING WITHIN THE BOUNDARIES OF THE TOWNSHIP IS FILED WITH THE TOWNSHIP CLERK WITHIN FORTY-FIVE (45) DAYS AFTER PUBLICATION OF THIS NOTICE. IF SUCH PETITION IS FILED, THE BONDS MAY NOT BE ISSUED WITHOUT AN APPROVING VOTE OF A MAJORITY OF THE QUALIFIED ELECTORS RESIDING WITHIN THE BOUNDARIES OF THE TOWNSHIP VOTING THEREON.
THIS NOTICE is given pursuant to the requirements of Section 517, Act 34, Public Acts of Michigan, 2001, as amended.
Audrey A. Brown
Township Clerk
Charter Township of Washington
Publish: 5/13/26