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Washtenaw County Bonding Information Update

Washtenaw County Bond Resolution Update Message from Commissioner Yousef Rabhi, Chair of the Board & Verna McDaniel, Washtenaw County Administrator:

As all of you are aware, the proposed retiree health care and pension bonding is scheduled for the July 10, 2013, Ways & Means agenda.   The opportunities which the County has presented for public input has demonstrated that there are many unanswered questions pertaining to this proposed bonding.  In addition, Commissioners still have concerns and questions about the bonding, which we wish to resolve prior to bringing the bonding before the Board for deliberation. 

Also, while doing due diligence for Wednesday’s meeting, Finance Director, Kelly Belknap, discovered that the Michigan State Department of Treasury, which must ultimately approve the bonding, still has not developed a template of the items which a local governmental entity must provide to be approved.  This matter has been discussed with Board leadership and we have agreed to put a hold on the proposed bonding to give the Board and Administration enough time to explore other options for the County to follow and address its budget needs.   The proposed bonding items have been removed from the July 10, 2013, Ways & Means agenda. 

If you have any questions or concerns, please contact Washtenaw County Administrative Office at (734) 222-6894, Yousef Rabhi, Chair of the Board, at (734) 548-5159, or email the County Administrator at WCAdministrator@ewashtenaw.org.

Sincerely,

Commissioner Yousef Rabhi, Chair of the Board

& Verna McDaniel, Washtenaw County Administrator

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