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Romulus council authorizes up to $10.5 million in 2025 refunding bonds; city projects ~$400,000 in savings
Summary
Council adopted a resolution authorizing the issuance of Series 2025B and 2025C refunding bonds (not to exceed $10,500,000) to refinance prior capital debt; staff estimated about $400,000 in savings if executed.
Romulus City Council on Oct. 13 adopted a tax resolution authorizing up to $10,500,000 in 2025 refunding bonds (Series 2025B and 2025C) intended to refinance prior capital issues and reduce the city's debt service.
Pat McGow, bond counsel from Miller Canfield, explained that the resolution authorizes issuance of up to $10.5 million to pay off outstanding bonds and issuance costs and that the council…
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