SaultMIOne of the issues on the agenda for Monday’s Commission meeting in Sault, Michigan is the adoption of a debt policy.  This is being done to further help the city when it comes to the prudent administration of any debt and to help preserve and maintain a credit rating that is the most beneficial to the city.  Other benefits are that it would help to facilitate sound Capital Budgeting and Capital Expenditure procedures and to serve as a reference for future decision makers regarding debt financing.  The Commission is being asked to approve the debt policy to be presented on Monday — it includes input from Pat McGow of Miller Canfield Paddock and Stone — the city’s most often utilized bond counsel and Warren Creamer of Robert W. Baird, the city’s most oftern utilized financial advisor.  It is also based on a model policy made by the Government Finance Officers Association.

—

City Commissioners will also be asked to approve a lease amendment involving the city and Cloverland Electrical Co-Operative.  The change would allow for a five year extension until March 2022, with the city having the right to extend the lease at 401 Hursley Street through May 2027.  It would also permit the city to access the rear year of the property to Cloverland for the purpose of working on the Power Canal and for equipment and supply storage.  The proposed extension would not affect the city’s Police Department.  It would remain at 401 Hursley — the location that currently meets the operating and financial needs of the city. The Sault, Michigan Police Department has been using the Cloverland Electric Co-Operative property at 401 Hursley for more that three years now as its police station.   A recommendation has been made by the City Manager that the construction of a police/fire station be postponed for the next five to seven years as the current location has been serving the current needs of the Police Department.  When the original lease agreement was made, 401 Hursley was to serve as a temporary location for the police until a permanent location was found — through the construction of a new public safety building.