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Kalamazoo may sell bonds to help with legacy health care costs

Steve Carmody
Michigan Radio

The Kalamazoo City Commission will consider selling bondsto 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.  

Steve Carmody has been a reporter for Michigan Public since 2005. Steve previously worked at public radio and television stations in Florida, Oklahoma and Kentucky, and also has extensive experience in commercial broadcasting.
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