September 16, 2021 Draft Minutes

Local Emergency Financial Assistance Loan Board

Thursday, September 16, 2021 at 2:00 PM

Richard H. Austin Building

State Treasurers' Board Room, 1st Floor SE 430 West Allegan Street

Lansing, Michigan 48922

Draft Minutes

 

  1. Call to Order
    1. Rachael Eubanks called the meeting to order at 2:00 P.M.

Members Present:

  • Rachael Eubanks, State Treasurer, Department of Treasury
  • Bethany Wicksall, Deputy State Budget Director, State Budget Office, Department of Technology, Management and Budget
  • Daniel C. Horn, Director, Finance and Administrative Services Bureau, Department of Licensing and Regulatory Affairs

Others Present:

  • Kristin Brown, Department of Treasury
  • Andrew Fillmore, Office of the Attorney General
  • Heather Frick, Department of Treasury
  • Harlan Goodrich, Department of Treasury
  • Susan Hendricks, City of Hamtramck
  • Brian Lefler, Robert W. Baird
  • John Millhouse, Office of the Attorney General
  • Bill Sanders, Department of Treasury
  1. Approval of Minutes
    1. A motion was made by Daniel C. Horn to approve the minutes from the special meeting of October 22, 2019, as presented. The motion was supported by Bethany Wicksall. The minutes were approved as presented.
  2. Public Comment
    1. None.
  3. New Business
    1. Order 2021-1, Designation for certain persons to give notice of meetings
      1. Rachael Eubanks called for a motion regarding the Approval of Order 2021-1. A motion was made by Daniel C. Horn. The motion was supported by Bethany Wicksall. The motion was unanimously approved by the Board. 3 ayes, 0 nays.
    2. Order 2021-2, Public comment period
      1. Rachael Eubanks called for a motion regarding the Approval of Order 2021-2. A motion was made by Daniel C. Horn. The motion was supported by Bethany Wicksall. The motion was unanimously approved by the Board. 3 ayes, 0 nays.
    3. Emergency Loan Fixed Interest Rate Reduction Program
      1. Harlan Goodrich, Department of Treasury, gave a summary of the fixed interest rate reduction program.
    4. Order 2021-3, Emergency Loan Fixed Interest Rate Reduction
      1. Rachael Eubanks called for a motion regarding the Approval of Order 2021-3. A motion was made by Daniel C. Horn. The motion was supported by Bethany Wicksall. The motion was unanimously approved by the Board. 3 ayes, 0 nays.
    5. Restructured Emergency Loan Requests from the Pontiac School District
      1. Brian Lefler, Robert W. Baird, gave a summary of the restructurings.
    6. Order 2021-4, Pontiac School District, Approval to restructure their emergency loan note 2013-14 Series I.
      1. Rachael Eubanks called for a motion regarding the Approval of Order 2021-4. A motion was made by Daniel C. Horn. The motion was supported by Bethany Wicksall. The motion was unanimously approved by the Board. 3 ayes, 0 nays.
    7. Order 2021-5, Pontiac School District, Approval to restructure their emergency loan note 2014-15 Series I.
      1. Rachael Eubanks called for a motion regarding the Approval of Order 2021-5. A motion was made by Daniel C. Horn. The motion was supported by Bethany Wicksall. The motion was unanimously approved by the Board. 3 ayes, 0 nays.
  4. Adjournment
    1. The Meeting was adjourned by Rachael Eubanks at 2:13 P.M.