Grand Rapids Considers Bond For Retiree Health Benefits

Posted at 11:20 AM, Mar 05, 2013
and last updated 2013-03-05 16:07:23-05

GRAND RAPIDS, Mich. — Tuesday, the Grand Rapids city commission discussed a way to “stabilize and secure” health care benefits for retirees into the future.

Commissioners are considering issuing a bond worth up to $100 million.

The city authorized a “45 day notice of intent” regarding the issuance of one or more bonds.

Jana Wallace, the city’s debt and authority finance officer, said the city needs to act on implementing the bonds by December 31, 2014.