Troy City Council Would be Authorized to Levy up to 1.1 Mills for Ten Years for Dedicated Library Funding with the Passage of the Following Question: -

In 2011, the City of Troy voters approved a levy of .70 mills against all property for the operation and maintenance of the library, and then approved a renewal in 2015. This levy is scheduled to expire June 30, 2021. Should the City of Troy replace and increase the expiring millage, and levy up to 1.1 mills against all taxable property for a 10 year period of time for the dedicated purpose of operating and maintaining the library and making capital improvements to the library building? 1.1 mills is equal to $1.10 on each $1000 of taxable value. If approved, the millage would raise approximately $5,787,978 in 2021, the first year it is levied. The majority of the revenue from the levy millage would be disbursed to the City, and could be used only for library operations, maintenance, and capital improvements. State law also requires disbursement to the Troy Brownfield Redevelopment Authority.