Committee rejects $9.3 million bond, approves $6.9 million capital improvement bond for Marquette campus

The Muskegon County Community Development and Strategic Planning Committee voted on April 17 to approve a 2025 limited-tax general obligation capital improvement bond not to exceed $6,900,000 and rejected a separate resolution to issue up to $9,300,000.

Finance staff presented two options for financing renovations and related work at the Marquette campus and secondary projects at the Hall of Justice and county parking areas. Angela Voshevsky, Finance Director, told the committee that a $9.3 million bond would produce an estimated annual payment of about $735,000 and total interest costs of about $4.5 million for a total cost near $13 million. She said a $6.9 million bond would lower the annual payment to roughly $550,000 and carry about $3.3 million in interest for a total near $10.2 million. “The payment on that would be about $735,000…