At its March 5, 2012 meeting, the Ann Arbor city council authorized issuance of $120 million in bonds to finance renovations and improvements to the city’s wastewater treatment plant. The bonds are to be sold directly to the Michigan Finance Authority as part of the State of Michigan’s Water Pollution Control Revolving Fund Program.
The first series of bonds – for $37 million – is scheduled to be issued on April 10, 2012 to finance the first phase of the project. The remaining series will be issued in the first half of 2013.
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.