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Board pledges limited-tax full faith and credit for Young’s Intercounty Drain bonds
Summary
Saginaw County adopted Resolution 2026-1 consenting to a limited-tax pledge for up to $2,085,000 in bonds for the Young’s Intercounty Drain project; the county’s share was apportioned at 39% and the resolution passed with one abstention.
The Saginaw County Board of Commissioners on Feb. 17 adopted Resolution 2026-1 consenting to a pledge of the county’s limited-tax full faith and credit to back bonds for the Young’s Intercounty Drain project, with the Drainage Board estimating a total project cost of $2,085,000 and apportioning 39% of the cost to Saginaw County.
The resolution authorizes the county to advance funds if special-assessment installments are not remitted and directs the county treasurer to pursue reimbursement. The bonds were described as maturing no later than June 1, 2046, with interest not to exceed 6% per annum, and are intended to be repaid from confirmed special assessments apportioned by the Drainage Board between Saginaw and Shiawassee counties.
The resolution passed on a motion by Commissioner Michael A. Webster, seconded by Commissioner Denny M. Harris; the roll call showed nine yeas, one absence (Commissioner John L. Kaczynski) and one abstention (Commissioner Richard A. Spitzer). The board’s approval is conditioned on Shiawassee County adopting a substantially similar resolution.
