Kalamazoo may sell bonds to help with legacy health care costs
The Kalamazoo City Commission will consider selling bonds to help cover part of its retiree health care costs tonight.
City officials are considering a proposal to sell nearly $91 million in bonds to cover part the city’s legacy health care costs.
The bond plan was suggested by a task force set up to study the city’s options.
Right now, the city has nearly $190 million in unfunded retiree health care liabilities.
The plan calls for paying off the bonds over the next 30 years, while at the same time also setting aside more money to pay for future costs.