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Posted on: June 15, 2018

NOTICE of Intent

Notice of Intent above the word BONDS

NOTICE OF INTENT TO ISSUE BONDS BY THE COUNTY OF LENAWEE, MICHIGAN

TO THE ELECTORS OF THE COUNTY OF LENAWEE, MICHIGAN:


NOTICE IS HEREBY GIVEN, that the County of Lenawee, Michigan, intends to issue limited tax general obligation bonds, in one or more series, in the principal amount of not to exceed $9,300,000 for the purpose of defraying all or part of the cost of making capital improvements to County buildings, including without limitation (a) the Sheriff Department building, (b) the Judicial Building, (c) the Annex Building, (d) the Robertson Building, (e) the Physical Resources Building and (f) the Airport Fixed Base Operation.
The bonds of each series will be payable in annual principal installments not to exceed twenty (20) in number and will bear interest at rates to be determined at a competitive or negotiated sale but in no event to exceed such rates as may be permitted by law.

The bonds will be issued under and pursuant to the provisions of Act No. 34, Public Acts of Michigan, 2001, as amended.  The full faith and credit of the County of Lenawee will be pledged to pay the principal of and interest on the bonds as the same shall become due.  The County of Lenawee will be obligated, as a first budget obligation, to advance moneys from its general funds or to levy ad valorem taxes on all taxable property within its corporate boundaries to pay the principal of and interest on the bonds as the same shall become due.  Taxes levied by the County of Lenawee for the payment of such principal and interest will be subject to applicable constitutional and statutory limitations.

RIGHT TO PETITION FOR REFERENDUM

This notice is given, by order of the Board of Commissioners of the County of Lenawee, to and for the benefit of the electors of the County of Lenawee in order to inform them of their right to petition for a referendum upon the question of the issuance of the aforesaid bonds.  The bonds will be issued, without submitting such a question to a vote of the electors, unless within 45 days after the date of publication of this notice a petition requesting a referendum upon such question, signed by not less than 10% or 15,000 of the registered electors residing within the County of Lenawee, whichever is the lesser, shall have been filed with the undersigned County Clerk.  In the event that such a petition is filed, the bonds will not be issued unless and until the issuance thereof shall have been approved by the vote of a majority of the electors of the County of Lenawee qualified to vote and voting thereon at a general or special election.

FURTHER INFORMATION

Further information relative to the issuance of said bonds and the subject matter of this notice may be secured at the office of the County Administrator of the County of Lenawee, 301 N. Main Street, Adrian, Michigan 49221.

This notice is given pursuant to the provisions of Act 34, Public Acts of Michigan, 2001, as amended.

Roxann Holloway, County Clerk
County of Lenawee

Dated:June 13, 2018



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