	Posted: 12-10-2012 New Jail and Juvenile Transition Center financed with bonds, not millage
	Cost savings from insurance changes, staff reductions help pay off debt
	A new Muskegon County Jail and Juvenile Transition Center could be financed through operational savings, instead of a millage. Thursday afternoon, the county’s financial advisors from FirstSouthwest presented to the Jail and Juvenile Transition Center Committee (JJTCC) their proposed plan to finance the new jail and Juvenile Transition Center. The county currently has $144 million in outstanding debt, with the highest component being the wastewater system debt, which is paid by user fees as opposed to tax dollars and does not come out of the county’s general fund. The county’s debt capacity, the amount of debt the county can repay in a timely manner, is currently $330 million, according to the financial advisors. See full story in Beacon print or e-edition

Date published: 12-10-2012