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Commission adopts ordinance allowing up to $18 million in junior‑lien water bonds
Summary
The City Commission voted to adopt an ordinance authorizing issuance of up to $18 million in junior‑lien revenue bonds to fund water supply system improvements; the 45‑day notice was published May 4 and the referendum period expires June 18 with no petition filed to date.
The Grand Rapids City Commission voted to adopt an ordinance authorizing one or more series of junior‑lien revenue bonds for water supply system improvements, in an amount not to exceed $18,000,000.
Commissioner Youssassy (introducing the item) told the commission the body published a 45‑day notice of intent on May 4; the referendum period will expire on June 18…
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