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City of Monroe Redevelopment Authority Board of Commissioners: Sept. 29, 2009
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MONROE - At a meeting Tuesday, the Redevelopment Authority Board of Commissioners approve participation for Monroe Clinic financing and authorize Chairperson Paul Sniff to sign engagement letter. According to City Attorney Rex Ewald, the letter only "moves the idea forward" for the city to lend its status as a municipality to the clinic for borrowing transactions, and gives the clinic the ability to market revenue bonds tax-free. The dollar amount being put out for bonds is not set, but will be about $65 million, said Ewald.