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Commissioners approve Brighton No. 4 drain bonds after debate over full faith and credit pledge
Summary
The board approved bonds for the Brighton No. 4 drain project despite objections from Commissioner Nakagiri about using county full faith and credit and questions about advisers' disclosures and bond‑insurance alternatives.
The Livingston County Board of Commissioners voted 8–1 on July 28 to approve a resolution authorizing issuance of bonds for the Brighton No. 4 drain improvement project, after an extended discussion about whether the county should pledge its full faith and credit to the borrowing.
Commissioner Nakagiri spoke at length against pledging county full faith and credit for the drain bonds, saying financial advisers and bond counsel had not adequately explained their assumptions and interest‑rate scenarios.…
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