Leland Township announced at its regular meeting Monday that it closed on the 2025 Sunset Shores Special Assessment Bonds totaling $880,000. With the bond closed and funds now in the township’s account, the project to establish a special assessment district (SAD) can move forward.
Earlier this year, the township put the special assessment bonds out for bids and received two responses. The township awarded the winning bid to Bernardi Securities, Inc., a municipal bond specialist that offered the lower percentage interest rate of 5.97% to be applied to repayments over the next 20 years.
Clint Mitchell, Leland Township supervisor, said while the initial project plan outlined that construction for the SAD would begin in April and be done by June, he anticipates it will take about the same length of time to complete in the months ahead.
