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Riverview council adopts notice of intent to issue up to $20 million in water and sewer revenue bonds
Summary
Council approved a notice of intent resolution required by Michigan’s Revenue Bond Act to publish and begin the process for up to $20 million in water and sewer revenue bonds and declared intent to reimburse prior expenditures under federal tax rules.
The Riverview City Council on May 19 adopted a notice-of-intent resolution to issue water and sewer revenue bonds in an amount not to exceed $20,000,000 for major improvements to the city’s water and sewer system.
City Attorney (presentation) and staff explained the procedural and federal-tax reasons for the resolution. The resolution begins the public-notice…
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