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The issue is that residents do not seem to know that the bonds would be issued for a refinancing of a land contract that would save taxpayers money in interest, Mayor Mark Postma said recently.

"Not one person that I talked to had any idea it was a refinance,"Postma said. "Some people were told it was a purchase and would be put on their taxes.Ó

The truth is, Postma said, the city would issue bonds for property already purchased and financed about a year ago, and the city is simply refinancing the loan at a lower interest rate.

"This is purely a cost-saving measure,"Postma said. Because of a better interest rate, the savings would have been at least $42,000.

The land that was purchased and is the topic of the controversy is adjacent to the city's boat launch. It was purchased to use for expansion of the boat launch.

Commissioner Jean Timmons, who is not running for reelection, had signed the petition and surprised the other commissioners by so doing.

Questions were asked of her as to why she would sign when as a commissioner she knew the bonds would be for a refinancing, yet that fact was not explained to people when they were asked to sign the petitions.

"You can understand why we're a little surprised to see your name on a petition when no communication on this took place at all within the commission,"Postma said.

"They asked me if I would sign that to give the people the right to vote on it, for this being bonded out,"Timmons said.

Postma said that as a commissioner, Timmons should have known the commission was refinancing and that it was not a new purchase.

He noted that her husband, Paul Timmons, is running for a commission seat.

Paul Timmons organized the petition drive after he had several businessmen and citizens approach him about it, he said on Monday.

"They asked me how to go about voting on it (bond issue),"Paul said.

"Every person I spoke to was made aware that it was a refinancing,"he said and added that he gave a copy of the notice about the bonds that ran in the newspaper to each circulator of the petitions.

"I encourage everyone before the election in November to research the project and the city's financial status,"Paul said.

Commissioners held a special meeting on Monday, Aug. 27, to pass a resolution to approve submission of the bond proposal onto the November ballot. It was passed unanimously. The action was necessary because the petitioners had obtained the required number of signatures and had filed the petitions with the Charlevoix County Clerk.