Official Statements

The Preliminary Official Statement for ACI Finance, Inc. issues is available at i-dealprospectus.com. Follow the prompts to the municipal bond section and input "Michigan" and the sale date in the FROM field and click on search; select ACI Finance, Inc. at the Manager/FA prompt.

Revised Municipal Finance Act

The Revised Municipal Finance Act, Public Act No. 34 of 2001, became effective on March 1, 2002. There are significant changes in the manner in which a city, village, township, county, and related units may issue debt. The changes include options not previously available such as bond/grant anticipation notes, Capital Improvement Bonds, and negotiated sales. Also modified is the filing procedure with the Michigan Department of Treasury for prior approval to sell bonds. You may find the Qualifying Statement on the Treasury web site. . . michigan.gov/treasury ... simply click on Local Government and then click on Municipal Finance. You may then choose to print a hard copy by clicking on Municipal Finance Forms or submit electronically by clicking on Online Qualifying Statement.

Grant Funding

Are you considering or are in the middle of a grant application process with USDA Rural Development or DWRF / SRF through DEQ? Consider this: there is a high degree of competition for funds. These agencies try to budget and allocate the dollars based on your cost estimates well in advance of actual funding. If these cost estimates have changed or have not been updated in a while for inflation it is vitally important that you let the agency know as soon as possible. Otherwise what they have budgeted may be insufficient and they may not have additional funds for the increase in a timely manner. This means your project may get put on hold for a significant period of time. Keep those cost estimates updated!