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Council authorizes up to $42 million in bonds to accelerate voter-approved Pathways to Play and preservation projects
Summary
Sterling Heights approved a resolution authorizing the issuance of limited-tax general obligation bonds not to exceed $42 million to fast-track Pathways to Play & Preservation projects (pickleball complex, Rotary Park redesign, sidewalk gap program, Red Run trail and a land bank). Council debate focused on interest costs and timing; the resolution passed 5–2.
The Sterling Heights City Council voted to authorize the issuance of up to $42 million in limited-tax general obligation capital improvement bonds to accelerate projects approved under the Pathways to Play & Preservation millage.
Finance staff presented a project list and financing plan. Assistant Finance Director Jennifer Varney and bond counsel Pat McGow explained that bonds will finance major elements of the millage program so projects can be completed in a three-year timeframe rather than being built piecemeal over many years.…
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