Lyndon Township voters approved a 20-year, about 2.9 mill broadband internet bond proposal by a vote of 622 to 321 Tuesday according to unofficial results on the Washtenaw County website.
The millage will pay for capital improvements in the township to bring a fiber optic network for internet access to the township starting as early as December 2018.
The proposal was initiated because high speed internet access is not available to most Lyndon Township residents.
The cost of the millage for residents in 2017 is 2.8692 mills or $2,8692 per $1,000 of taxable value (taxable value is about half the home’s market value). For the remaining 19 years, it is estimated to be 2.9102 mills or $2.9102 per $1,000 of taxable value.
After building the fiber network, the township will partner with one or more private service providers to deliver Internet access to residents.
Below is the ballot language.
Shall the Township of Lyndon, County of Washtenaw, Michigan, borrow the principal sum of not to exceed Seven Million Dollars ($7,000,000) and issue its general obligation unlimited tax bonds, in one or more series, payable in not to exceed twenty (20) years from the date of issue of each series, for the purpose of paying the cost to acquire, construct, furnish, and equip capital improvements consisting generally of a fiber optic infrastructure to provide broadband internet service in the Township including, but not limited to, fiber optic backbone, service lines, necessary electronics, rights-of-way, accessories and attachments thereto and any other related component, equipment or cost necessary to place the improvements into service?
If approved, the estimated millage to be levied in 2017 is 2.8692 mills ($2.8692 per $1,000 of taxable value) and for the remaining 19 years the estimated simple average annual millage rate required to retire the bonds is 2.9102 mills ($2.9102 per $1,000 of taxable value).
