HOLLAND, MI (WHTC AM/FM) – In just over two weeks, voters in Holland could put the city on the road to much more high speed internet.
If the millage proposal is approved, it would allow the city to borrow up to $30,000,000 and issue general obligation bonds over 25 years to finance the expansion of the City’s broadband internet transport services, to include the engineering and design, acquisition, construction, installation and expansion of its fiber optics network and associated facilities.
After the network is built by the Holland Board of Public Works, residents would have the option to connect to and use the city-provided service or continue with a provider of their choice.
The city says while some are not interested in the proposal, it learned through community forums about 60% to 70% of voters wanted to see it on the ballot. If the proposal is approved August 2, it would still take about three years until the entire project is finished.
Ballot language says the estimated millage that will be levied for the proposed bonds for the first year of levy is 1.5 mill(s) ($1.50 on each $1,000 of taxable valuation) and the estimated simple average annual millage rate required to retire the bonds is 1.12 mills ($1.12 for each $1,000 of taxable value).
Comments