Stories indexed with the term ‘re-funding bonds’

The  Washtenaw County board of commissioners has given initial approval to authorize the re-funding of up to $16.5 million in outstanding capital improvement bonds, which were originally issued in 2006 to fund expansion of the county jail. The action took place at the board’s April 2, 2014 meeting.

According to a staff memo, $16.9 million in principal remains of the original $21.675 million bond sale. The county’s bond counsel, Axe & Ecklund, is advising the re-funding because of lower interest rates, and estimates a net savings of about $869,000 over life of the bond issue. The new issue would be called “County of Washtenaw Capital Improvement Refunding Bonds, Series 2014.” [.pdf of refunding resolution]

Bond counsel John Axe told the board that current interest rates are … [Full Story]

Final approval for the re-funding of bonds previously issued by Washtenaw County was given by the county board of commissioners at its June 6, 2012 meeting. The action – advised by the county’s bond counsel, John Axe of Axe & Ecklund of Grosse Pointe Farms – consolidates two previous bond issues and is expected to save $889,000 over the life of the bond repayments. Initial approval was given at the board’s May 16, 2012 meeting.

The county board approved a bond sale of $6.365 million in 2004 to fund energy efficiency improvements in county facilities. Chevron Energy Solutions was hired to oversee that effort, which is known as the Chevron project. About $4.69 million in principle is owed on that bond. [Commissioners were last ... [Full Story]

Two resolutions related to re-funding of bonds previously issued by Washtenaw County were given initial approval by the county board of commissioners at its May 16, 2012 meeting. The action – advised by the county’s bond counsel, John Axe of Axe & Ecklund of Grosse Pointe Farms – consolidates two previous bond issues and is expected to save $889,000 over the life of the bond repayments. A second, final vote is required and will likely be on the board’s June 6 agenda.

The county board approved a bond sale of $6.365 million in 2004 to fund energy efficiency improvements in county facilities. Chevron Energy Solutions was hired to oversee that effort, which is known as the Chevron project. About $4.69 million in principle is owed … [Full Story]

Ann Arbor Public Schools Board of Education regular meeting (March 21, 2012): At its Wednesday evening meeting, trustees of the Ann Arbor Public Schools (AAPS) heard and discussed a variety of revenue enhancement proposals from the administration.

The proposals ranged from digital billboards on district property to enrolling international students into the district. Board reaction to the proposals was mixed.

Trustee Christine Stead described the proposals as creative, but requested the opportunity to see “both sides of the ledger” – both revenue enhancements and cuts. Trustee Andy Thomas said he was “underwhelmed” by the revenue projections.

After a special briefing on a resolution to re-fund the 2004 Building and Sites Bond, the board unanimously approved the resolution. The re-fund, or “refinance,” of the bond would mean a slightly reduced millage rate for taxpayers. The re-funding will only go through if market conditions remain favorable. [Full Story]

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]