EXHIBIT A NOTICE TO TAXPAYERS AND ELECTORS OF THE CITY OF EASTPOINTE OF INTENT TO ISSUE BONDS AND THE RIGHT OF REFERENDUM RELATING THERETO PLEASE TAKE NOTICE that the City of Eastpointe, County of Macomb, State of Michigan (the “City”), intends to issue and sell its general obligation limited tax bonds pursuant to Act 34, Public Acts of Michigan, 2001, as amended, in an aggregate principal amount of not to exceed Ten Million Dollars ($10,000,000), for the purpose of paying part of the cost of acquiring, constructing, furnishing and equipping new police and court facilities, together with all related site improvements, equipment, appurtenances and attachments. SOURCE OF PAYMENT OF BONDS THE PRINCIPAL OF AND INTEREST ON 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. BOND DETAILS THE BONDS will be payable in annual installments not to exceed twenty-five (25) in number for each issue and will bear interest at the rate or rates to be determined at a public or private sale but in no event to exceed the maximum rate permitted by law on the balance of the bonds from time to time remaining unpaid. RIGHT OF REFERENDUM THE BONDS WILL BE ISSUED WITHOUT A VOTE OF THE ELECTORS UNLESS A 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. Ryan Madis City Clerk, City of Eastpointe Published on: ________________
