BENEFITS OF A BOND

The city’s recent bond eligibility rating highlights its strong financial health, backed by a solid past and current financial standing. This favorable rating was bolstered by the city’s recent audits, which reflect fiscally sound practices and responsible management of public funds. This bond proposal, valued at $2 million, will not result in increased taxes for residents. It’s crucial to distinguish between this bond issue and yearly property assessments, which are driven by state-mandated formulas and can fluctuate annually.

The bond proposal is akin to a mortgage: just as homeowners pay off a mortgage while living in their homes, the city will use the bond funds to address critical infrastructure & project needs while managing the cost over time. The goal of this infusion of $2 million into the local economy is to stimulate growth, create jobs, and help fund vital improvements in the community.

A key priority for the city council is addressing the legacy of lead pipes throughout the community, particularly in light of the water crisis in Flint. Michigan municipalities were given a legal, unfunded mandate to replace all lead pipes, and this bond will allow the city to complete the replacement of nearly 200 households’ lead pipes. The Council is dedicated to ensuring the health and well-being of all families, making the completion of this project a top priority.  This aspect of the bond clearly indicates the city’s intent for healthier households. 

The bond proposal represents a responsible financial strategy that will not burden residents with increased taxes.  Instead of raising additional taxes, bonds will be paid for by revenues left over from current budgets and levies.  It ensures the city stays on a path of fiscal responsibility, with no added cost to taxpayers, all while improving the quality of life for families throughout the city.