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Shiawassee County board consents to up to $920,000 Wheeler Intercounty Drain bonds, pledges limited-tax backing
Summary
The board adopted Resolution 25-01-01 consenting to Wheeler Intercounty Drain Bonds, Series 2025, authorizing up to $920,000 in bonds (Shiawassee's share 14%) and pledging the county's limited tax full faith and credit to cover unpaid special assessments; effectiveness is contingent on a matching Genesee County resolution.
The Shiawassee County Board of Commissioners on Jan. 15 adopted Resolution 25-01-01 consenting to issuance of Wheeler Intercounty Drain Bonds, Series 2025, authorizing bonds in an aggregate principal amount not to exceed $920,000 and pledging the county's "limited tax full faith and credit" to the extent necessary to cover special assessments if property owners or public corporations fail to pay.
The resolution, which passed on a…
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