Commerce Township: $18.6 million pathway bond

The question, as printed on the ballot

For the purpose of acquiring and constructing one or more paved non-motorized pathways within the Charter Township of Commerce and the Village of Wolverine Lake as described in the Township’s and Village’s Parks and Recreation Master Plans, including their design and other related improvements, shall the Charter Township of Commerce, Oakland County, Michigan borrow a principal amount not to exceed $18.6 Million dollars and issue Unlimited Tax General Obligation bonds for all or a portion of that amount in one or more series payable over not to exceed 10 years from the date of issue? The estimated new millage to be levied in the first year of the levy is 0.5986 mill ($0.5986 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds over 10 years is 0.5989 mill ($0.5989 per $1,000 of taxable value).