Is this the same annoying Maddox from the early 2000s?
lol @ 175mil bond to replace it.
Well to be fair, I'm sure they may be a few other things they'd like to do! lol
But also, WTH, how do these "bonds" work in Michigan? Here in Ohio, we have "levies", and at first I wondered if I heard it wrong because 1.75 million or thereabouts is a common number here. Maybe $5 million. All depends on the size of the region I imagine, but Toledo isn't 100x smaller than GR metro. These bonds must work way differently.
Oh and the levies are attached to property taxes, so then there's millage rates and whatnot. But half of the time they are simply renewal levies, so they aren't asking for any more money but the same they've had for however long since it changed.
On that note, I think last November I saw for the first time ever a renewal levy that actually dropped the millage.
Levies, around here at least, seem to be reported in annualized terms. Perhaps the bonds are total amount over a period of years?