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Title:
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Submitting reso. autho. City Council of the City of Detroit, County of Wayne, State of Michigan, authorizing the issuance by the City of Detroit of not to exceed $275,000,000 distributable state aid refunding bonds (unlimited tax general obligation), series 2016, in one or more sub-series, for the purpose of refunding all or a portion of the outstanding distributable state aid fourth lien restructured bonds (unlimited tax general obligation), series 2014 and all or a portion of the outstanding stub unlimited tax general obligation bonds; authorizing a sixth supplement to the outstanding master debt retirement trust indenture to secure repayment of said bonds; and authorizing and delegating to the finance director and other authorized officers to make certain determinations and to take certain actions in connection with the sale and delivery of said refunding bonds to the Michigan Finance Authority. (REFERRED TO THE BUDGET, FINANCE AND AUDIT STANDING COMMITTEE ON 6-15-16)
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