Title
Resolution Authorizing Publication of Notice of Intent to Issue Capital Improvement Bonds for Various Park Capital Improvements (Not to Exceed $10,000,000.00) (6 Votes Roll Call)
Memorandum
Recommended for Council is a Resolution approving the publication of a Notice of Intent to Issue Capital Improvement Bonds (Limited Tax General Obligation) in the maximum principal amount of $10,000,000.00 for the purposes of financing public improvements to City parks and the cost of issuance, i.e., underwriting, bond counsel, municipal advisor, rating and paying agent costs.
The purpose of this resolution is to authorize publication of a notice of intent to issue the Bonds to inform the electors and taxpayers of the City of Ann Arbor of the Bonds' purpose and their right to petition for a referendum on the questions of issuance of the Bonds. The City intends to issue the Bonds without a vote of the electors, but the Bonds will not be issued until 45 days after publication of this notice and until final approval and authorization by separate resolution.
Staff anticipates that the City of Ann Arbor will be responsible for repayment of the Bond proceeds, interest, and other related issuance costs through the Parks Maintenance and Capital Improvement Millage.
Staff
Prepared by: Marti Praschan, Chief Financial Officer
Reviewed by: Michelle Landis, Senior Assistant City Attorney
Approved by: Milton Dohoney Jr., City Administrator
Body
Resolution: R-26-___
File Number: 26- Enactment Number: R-26-___
RESOLUTION AUTHORIZING PUBLICATION OF
NOTICE OF INTENT TO ISSUE
CAPITAL IMPROVEMENT BONDS FOR PARK CAPITAL IMPROVEMENTS AND DECLARING INTENT TO REIMBURSE
CITY OF ANN ARBOR
County of Washtenaw, State of Michigan
Minutes of a regular meeting of the City Council of the City of Ann Arbor, County of Washtenaw, State of Michigan, held on the 8th day of September, 2026, at 7:00 p.m., Eastern Daylight Time.
PRESENT: Mem...
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