City Council to discuss $125 million bond sale for Woodward light rail project

[BShea]

Detroit City Council to discuss resolution to OK $125 million in bonds for Woodward rail line

By Bill Shea
On the agenda for the Detroit City Council meeting scheduled for Tuesday is a resolution that would authorize $125 million in bonds for construction of a portion of the $450 million light-rail project on Woodward Avenue.
The resolution would green-light up to $125 million in Capital Grant Receipts Revenue Bonds, and the money would pay for some of the rail line work and "other essential capital improvements for the city's Department of Transportation."
It's unclear how or whether the bonds are linked to the $125 million in funding arranged for the project by the private sector.
The bond resolution is scheduled for a vote that would send it to the Budget, Finance and Audit Standing Committee, headed by Councilman Ken Cockrel Jr.


For the rest of the story:

http://www.crainsdetroit.com/article...125-million-in

[Hermod]

I am sure the clowncil will have a lot of questions before voting.

"What is my commission on that?"

"How much will be set asides for our buds?"

[Russix]

Hey Bill, tell Kyle the Fertilizer said hi!!!