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    City of Three Rivers Michigan

    Public Notice of Intent (Bonds)

    0
    By > on May 10, 2018 Public Notices

    City of Three Rivers – 
    PUBLIC NOTICE:  

    NOTICE TO TAXPAYERS AND ELECTORS
    OF THE CITY OF THREE RIVERS
    OF INTENT TO ISSUE BONDS SECURED BY THE TAXING
    POWER OF THE CITY AND RIGHT OF REFERENDUM THEREON

    PLEASE TAKE NOTICE that the City Commission of the City of Three Rivers, County of Saint Joseph, State of Michigan, intends to issue and sell general obligation capital improvement bonds pursuant to Act 34, Public Acts of Michigan, 2001, as amended (“Act 34”), in an amount not to exceed Two Million Three Hundred Thousand Dollars ($2,300,000), in one or more series, for the purpose of paying all or part of the cost of acquiring, constructing, furnishing and equipping a recreation facility, consisting generally of athletic fields, together with all necessary interests in land, site improvements, parking lots, lighting, irrigation, and all related sites, structures, equipment, appurtenances and attachments thereto.

    BOND DETAILS

    SAID BONDS shall mature in annual installments not to exceed twenty-five (25) in number, with interest rates to be determined at a public or private sale but in no event exceeding the maximum rate permitted by law on the unpaid balance from time to time remaining outstanding on said bonds.

    SOURCE OF PAYMENT OF BONDS

    THE PRINCIPAL AND INTEREST OF THE BONDS shall be payable from the general funds of the City lawfully available for such purposes including property taxes levied within applicable constitutional, statutory, and charter tax rate limitations.

    RIGHT OF REFERENDUM

    THE BONDS WILL BE ISSUED WITHOUT A VOTE OF THE ELECTORS UNLESS A VALID PETITION REQUESTING SUCH A VOTE SIGNED BY NOT LESS THAN 10% OF THE REGISTERED ELECTORS RESIDING WITHIN THE BOUNDARIES OF THE CITY IS FILED WITH THE CITY 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 CITY VOTING THEREON.

    THIS NOTICE is given pursuant to the requirements of Section 517, Act 34, Public Acts of Michigan, 2001, as amended.

    Melissa J. Bliss, City Clerk
    City of Three Rivers

     

    Public notice (pdf)

     

    bonds electors notice of intent taxpayers
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    About Three Rivers
    About Three Rivers

    The City of Three Rivers is located approximately 20 miles south of Kalamazoo, MI. We were founded by settlers who used the Three Rivers to transport goods. The St. Joseph River and the Portage & Rocky Rivers all converge near the city center, making this area an ideal location for trading and commerce.

    Today, we continue to enjoy the many benefits of living in such a great location. We invite you to visit and fish our many lakes, kayak our rivers, play in our parks, and enjoy the cultural benefits of having such a richly diverse community.

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    Clerk’s Office
    (269) 273-1075, ext 108

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    (269) 273-1075, ext 162

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    (269) 273-1075, ext 111

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