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Waterford trustees approve parameters resolution to sell bonds for community center project
Summary
The board authorized a parameters resolution to issue a series of general obligation unlimited tax bonds (first series up to about $10.25 million) toward a community center project with a total not-to-exceed amount cited in the presentation; the resolution delegates sale authority and sets a 6% interest-rate cap for conforming bids.
At the June 9 meeting, the Waterford Township Board of Trustees approved a parameters resolution to sell general obligation unlimited tax bonds to finance the Waterford Township Community Center project.
Staff and outside counsel described a two-series bond plan; the first series proposed later this summer would be for about…
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