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Saginaw County pledges limited-tax backing for Youngs Intercounty Drain bond anticipation
Summary
The Board unanimously agreed to pledge the county's limited-tax full faith and credit to back anticipated bonds for the Youngs Intercounty Drain project, covering Saginaw County's apportioned 39% of an estimated $2,085,000 project cost, with a provision to advance county funds if special assessments are unpaid.
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 in support of anticipated bonds for improvements to the Youngs Intercounty Drain.
The Drainage Board’s computation of cost estimated the Project at $2,085,000; the Drainage Board apportioned 39% of that cost to Saginaw County and 61% to Shiawassee County. Resolution 2026-1 authorizes the county to pledge its limited-tax backing for bond anticipation to the extent of the county’s apportioned special assessments and directs the Saginaw County Treasurer to advance funds if property owners or public corporations fail to pay assessment installments when due.
The resolution was offered by Commissioner Michael A. Webster and seconded by Commissioner Denny M. Harris; the minutes record the roll-call as Yeas 9, Absent 1 and one abstention. The resolution also authorizes the county treasurer to execute a continuing-disclosure certificate if necessary to comply with SEC Rule 15c2-12 for bond offerings. The resolution becomes effective upon similar action by Shiawassee County, as provided in the resolution language.
The Drain Code citations and assessment apportionment are part of the resolution record; any property-owner assessments would be levied and collected according to the Drain Code procedures.
