Proposal 02-2 Full Text

PROPOSAL 02-2

A PROPOSAL TO AUTHORIZE BONDS FOR SEWAGE TREATMENT WORKS PROJECTS, STORM WATER PROJECTS AND WATER POLLUTION PROJECTS

The proposal would:

• Authorize the State of Michigan to borrow a sum not to exceed $1 billion to improve the quality of the waters of the state by financing sewage treatment works projects, storm water projects and water pollution projects.
• Authorize the state to issue general obligation bonds pledging the full faith and credit of the state for the payment of principal and interest on the bonds.
• Provide for repayment of the bonds from the general fund of the state.

Should this proposal be adopted?

Yes __

No  __