To Approve Financing Improvements to a Building for the LibraryWed, 29 Jul 2020 14:29:25 EDT
During their meeting Tuesday afternoon (July 28th), Alpena County Commissioners approved a sublease to approve financing improvements to a building for the Alpena County Library.
Officials said the Alpena County Library wished to remodel and equip real estate which comprises the Library through bonds to be issued through the Alpena County Building Authority.
The Library will sublease the Project from the County and will pay semiannual rent sufficient to pay all debt service on a bond issue which is estimated to be in the principal amount of not to exceed $3,000,000.
During the term of the bond issue, the Library will pay all costs of operation and maintenance of the Project.
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