Politics & Government
Bloomfield Township Plans Town Halls on Pension Bonds
The meetings follow questions raised about a recent unanimous vote to fund pensions obligations through additional bonds.
Bloomfield Township scheduled two town hall meetings to discuss plans to sell bonds to meet pension obligations.
Residents can learn more about the plan and ask questions from 7-9 p.m. Wednesday, June 26 and 1-3 p.m. on Tuesday, July 9 at Township Hall.
The Bloomfield Township Board of Trustees voted unanimously last month to sell $85 million in bonds to cover retiree costs under a new state law that, for the first time, allows municipalities to raise funds through bonds and not direct taxes. Officials believe it could save a projected $60 million to $80 million over the next 20 years, according to township documents.
The meetings also follow an article in the Detroit Free Press this week that highlighted some local opposition and concerns. Read Bloomfield Patch blogger Marcia Robovitsky's take on matter in her latest blog.
Do you believe this will save the township taxpayer money in the long run or are you concerned about accruing more debt? Tell us in the comments.
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