Oakland County closes $350 million bond deal

Oakland County has closed a bond deal that will save taxpayers an estimated $130 million, County Executive L. Brooks Patterson and Treasurer Andy E. Meisner announced. The county issued $350 million in limited taxable general obligation (GO) bonds yesterday with the majority purchased by Bank of America, N.A. The county will use the proceeds eventually to refinance existing debt and to supersede the county’s future retiree health care obligations. “Bank of America sees Oakland County as a … [Read more...]