Lyndon Township residents will have an opportunity to vote on Aug. 8 on a bond proposal to fund construction of a fiber optic broadband network serving every home in the township.
Residents who would like to know more about this proposal are encouraged to attend an informational meeting on Thursday, July 20 at 7 p.m. at Lyndon Township Hall, 17751 N. Territorial.
LYNDON TOWNSHIP BROADBAND INTERNET BOND PROPOSAL
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).
To find out more, please visit www.mbcoop.org.
