Ann Arbor Council OKs Re-Funding Bonds

At its Feb. 6, 2012 meeting, the Ann Arbor city council approved the issuance of $2,850,000 of bonds to refinance the outstanding principal amount of Michigan Transportation Fund Bonds for the Broadway Bridges project. After factoring in bond issuance costs, the city expects to save around $185,000 over the next 11 years.

This brief was filed from the city council’s chambers on the second floor of city hall, located at 301 E. Huron. A more detailed report will follow: [link]