Committee authorizes pledge for 2026 refunding bonds, staff cites ~$1.84M net present value savings
The committee authorized pledging the county’s full faith and credit for issuance of general obligation limited tax refunding bonds, series 2026; staff estimated net present value savings of $1,840,000 (about 9.55%), and Commissioner Coleman noted that the savings figure is after roughly $216,000 in expenses.
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Fiscal staff requested that the committee authorize pledging the county’s full faith and credit to issue general obligation limited tax refunding bonds, series 2026, under Act 34 (Public Acts of Michigan 2001, as amended), to refund all or part of outstanding county securities.
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