Stories indexed with the term ‘bonds’

At its Oct. 19, 2011 meeting, the Washtenaw County board of commissioners gave final approval to a contract with Sylvan Township related to the township’s bond repayment schedule. The township has been struggling to make payments on $12.5 million in bonds issued in 2001 to build a water and wastewater treatment plant intended to serve future development. The township expected that connection fees would cover the bond payments, but the development never materialized.

Now Sylvan Township – located west of Ann Arbor, near Chelsea – is facing default on its bond payment in May 2012, which the county will need to cover. The township board voted to put a proposal for a 4.75 mill, 20-year tax on the Nov. 8, 2011 ballot … [Full Story]

At its Oct. 5, 2011 meeting, the Washtenaw County board of commissioners gave initial approval to a contract with Sylvan Township related to the township’s bond repayment schedule. The township has been struggling to make payments on $12.5 million in bonds issued in 2001 to build a water and wastewater treatment plant intended to serve future development. The township expected that connection fees would cover the bond payments, but the development never materialized.

Now Sylvan Township – located west of Ann Arbor, near Chelsea – is facing default on its bond payment in May 2012, which the county will need to cover. The township board voted to put a proposal for a 4.75 mill, 20-year tax on the November 2011 … [Full Story]

At its Aug. 15, 2011 meeting, the Ann Arbor city council voted to issue $7 million worth of revenue bonds for its water supply system. The money will be used by the city to finance improvements to the city’s water distribution system, including portions of the Arbor Oaks subdivision water mains replacement project, the Catherine Street 16-inch water main, the Dover Court/Collingwood water main replacement, physical security enhancements, and Barton Dam concrete repair projects.

Assistant city attorney Abigail Elias explained at the meeting that because the ordinance does not change the city code, it does not require a second reading and public hearing.

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] [Full Story]

Downtown Development Authority board meeting (Aug. 19, 2009): As expected, the DDA board approved spending $226,000 to replace 6-inch water mains with 12-inch pipes, and authorized hiring The Christman Company for $40,000 worth of construction management services – which are for now limited to the pre-construction phase of the Fifth Avenue underground parking garage.

The same day, the city of Ann Arbor delivered the roughly $49 million worth of bonds that had previously been sold to pay for the project, and received the funds. In response to the obvious Chronicle question, the city’s CFO, Tom Crawford told The Chronicle over the phone, “Yes, we have the money.” So far, then, the lawsuit that was filed last week by the Great Lakes Environmental Law Center, has not had a material effect on the forward progress of the underground parking garage project.

Wednesday’s special meeting of the DDA board – called to consider authorization of expenditures on water mains and to hire a pre-construction manager – was also John Splitt’s first opportunity to chair  a meeting since his somewhat controversial July 1 election as board president.

As Splitt caught sight of his place at the board table, he observed cheerfully, “It’s not pink!” [Full Story]

Ann Arbor City Council Sunday caucus (March 1, 2009): At Sunday’s caucus, Mayor John Hieftje assessed the Ann Arbor city council agenda for Monday as “fairly light.” That’s also an accurate description of the kind of loads the Stadium Boulevard bridge over State Street can currently bear – with deterioration of the structure leading to two weight limit reductions in the last year, and a reduction of traffic to two lanes last week.

Even though it is not yet reflected on the agenda for Monday, it’s expected that Sue McCormick, public services director of the city of Ann Arbor, will brief council on the bridge at the start of its meeting.

Some of the handful of residents at caucus were there to inquire about the bridge (and city finances in general), while others were there to weigh in on the A2D2 (Ann Arbor Discovering Downtown) rezoning process, which the planning commission is literally in the midst of deliberating. [Full Story]

Ann Arbor City Council (Dec. 15, 2008) City council heard extensive public commentary and suspended its own rules to allow for more deliberation on the topic of appointing a study committee for a new historic district possibly to be called Germantown. But in the end, the proposal garnered only one vote in addition to those of its two sponsors. In other business, council moved an anti-graffiti ordinance to a second reading (the next step for any amendment to the city code), and approved an intent to issue $9 million in bonds to fund the parking structure portion of Village Green’s City Apartments project. [Full Story]