Council approves resolution to publish notice of intent to issue municipal securities for Clearwells project and fire truck
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Summary
Council adopted Resolution 2025-07 to publish a 45-day notice of intent to issue municipal securities for potential funding of the Clearwells project and a fire truck, establishing a maximum bond amount of $4.1 million and authorizing bond-counsel engagement.
The Alpena City Council voted to adopt Resolution No. 2025-07 on July 7, authorizing publication of a notice of intent to issue municipal securities related to potential financing for the Clearwells project and the purchase of a fire truck. City staff explained the resolution sets a maximum borrowing ceiling — described in the meeting as $4,100,000 — and initiates the 45-day referendum period by publishing the notice in a newspaper of general circulation (the presenter said the notice would be published in the Alpena News).
Attorney Roger Swetz of Dickinson Wright (available online) and staff explained that the resolution is an initial procedural step to begin the bonding process, not the final bond authorization. The city also authorized an engagement letter with Dickinson Wright for bond counsel services. Staff said a more detailed bond resolution would return to council later with authorization amounts and terms before an actual sale of bonds.
A motion to adopt the resolution was moved and seconded; roll-call votes were recorded and the motion carried.
Council members asked about the newspaper publication and were shown the notice as Exhibit A in the packet.