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Mount Clemens authorizes up to $3 million in bonds for ice arena repairs
Summary
The commission approved a bond-authorizing resolution to issue limited tax general obligation bonds up to $3,000,000 for ice arena repairs and associated capital items; financial advisers explained denomination language, transfer-agent options and an estimated true interest cost.
The Mount Clemens City Commission voted Nov. 16 to adopt a bond-authorizing resolution allowing the city to issue limited tax general obligation bonds not to exceed $3,000,000 to fund repairs and improvements at the city’s ice arena and related capital projects.
Jeff Farrenoff of Miller Canfield (attorney/financial adviser) explained the bond language to the commission, saying the…
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