Township Board Meeting

NOTICE OF MEETING
of the Township Board of the
Charter Township OF Fruitport to consider issuance of bonds

Pursuant to the provisions of Section 308 of the revised Municipal Finance Act, being Act 34, Public Acts of Michigan, 2001, as amended (MCL 141.2308), you are hereby notified that the Township Board of the Charter Township of Fruitport at its meeting on October 25, 2021 at 7:00 p.m. at 5865 Airline Hwy, Fruitport, Michigan, will consider adopting a resolution authorizing the issuance of the following bonds (the “Bonds”):

downtown DEVELOPMENT Bonds

The Bonds may be issued in one or more series and will be payable primarily from tax increment revenues captured by the Downtown Development Authority of the Charter Township of Fruitport which the Township expects to be more than sufficient to pay the  principal of and interest on these Bonds when due.  As additional security for the prompt payment of the principal of and interest on the Bonds, the proposed Bonds will contain a limited tax full faith and credit pledge of the Township.  In the event there are insufficient moneys for the payment of principal of and interest on the Bonds, the Township shall levy a tax on all taxable property in the Township for the prompt payment of principal and interest on the Bonds, which tax shall be limited as to rate and amount by applicable constitutional and statutory on the taxing power of the Township.