Attached for review and comment is a draft release regarding restructuring of the DWRF bonds. It is
necessary for me to issue an order to do this, and it is still subject to Treasury approval. Treasury is waiting
for the paperwork, so I am expecting approval. Timing is an issue because the restructuring affects debt
service payments due April 1.
The plan is to sign the order tomorrow and get it to Treasury same day... so I see it as important to get our
message out first.
Note that my discussions with Treasury have been towards freeing up funds for needed capital
improvements. Not for reducing rates....
[am asking Jason/Kelly to get this to whomever else at the state should also review. I am copying Terry
Stanton.
This needs to be ready for release early in the morning.
Please include Jason in responses regarding editorial comments. let me know if you have issues with
substance or timing.
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Howard Croft
Public Works Director
City of Flint
1101S. Saginaw Street
Flint, MT 48802
PH# 810.706.7135 Ext.2043
[email protected]
Liz Murphy
Assistant to the Emergency Manager
City of Flint
810 237 2025
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Byrne, Randall (T reasury)