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Committee authorizes notice of intent and moves forward on CIP bond planning for Pontiac redevelopment and county facilities
Summary
The committee approved a notice of intent to publish for limited-tax general-obligation bonds for the Pontiac redevelopment (31 Judson) and authorized planning for a county capital-improvement bond tranche (initial $232M draw focused on high-priority work). The actions create debt-service and project funds and set an earliest issuance timing in February.
Oakland County moved forward on two major capital-financing steps: a notice of intent to publish for limited-tax general-obligation bonds to support the Pontiac redevelopment parking-structure work at 31 Judson, and planning authority to prepare for an initial draw on a larger capital-improvement program.
County bond counsel and the CFO explained that the Pontiac resolution authorizes…
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