TITLE

Michigan May Let County Issue GO Debt for OPEBs

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
July 2006
SOURCE
Bond Buyer;7/21/2006, Vol. 357 Issue 32428, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that U.S. Senator Nancy Cassis plans to introduce legislation that would allow Oakland County, Michigan to issue general obligation bonds to fund around $500 million unfunded liability for retiree health care costs. Oakland County Executive L. Brooks Patterson introduced hi 2007-08 biennial budget and proposed the $500 million taxable bond issue for shifting an irrevocable trust for post-employment health care costs to bond payments.
ACCESSION #
21784063

 

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