Trustees authorize notice of intent to issue up to $1.8 million in municipal securities to finance roads, canals and seawall work

Harrison Township trustees on April 27 adopted a resolution declaring the township’s intent to finance multiple capital improvements by issuing municipal securities in an aggregate principal amount not to exceed $1,800,000.

Treasurer Lawrence Tomenello offered and Trustee Brian Batkins supported the resolution, which lists project categories to be financed: accumulated sediment and aquatic weed removal from Archer, Lakeshore and Pardee canals; seawall installation and related improvements along Elm Lane; improvements to the township street system including resurfacing, base reconstruction, drainage and stormwater lift-station work; and restoration of property, rights-of-way and easements affected by those projects. The board directed the Supervisor to publish a Notice of Intent required by Section 517 of Act 34 (Public Acts of Michigan, 2001) and retained Kirk, Huth, Lange & Badalamenti, PLC as bond counsel.

At the same meeting the board acted on multiple road special assessment district items: Mallast Street (estimated cost per parcel cited at $639.20 and a grant program noted), Ponchartrain Street (estimated $901.69 per parcel), and Shoreline Drive (estimated $1,108.91 per parcel). The minutes note Macomb County grant funding for Mallast, Ponchartrain and Shoreline projects under the Subdivision Preservation Program covering 75% of the cost with the remaining 25% to be assessed to benefiting properties.

The board approved the Consent Agenda earlier in the meeting, including bills totaling $1,745,038.78. The Notice of Intent publication is the first formal step in a process that allows the township to reimburse prior expenditures from bond proceeds and to prepare for potential bond sales; final bond authorization will require further board action.