September 11 Meeting Minutes

LOCAL EMERGENCY FINANCIAL ASSISTANCE LOAN BOARD

Meeting Minutes

Wednesday, September 11, 2024

10:45 A.M.

Richard H. Austin Building      

State Treasurers’ Board Room, 1^st Floor

430 West Allegan Street

Lansing, Michigan 48922

Members Present

•        Kevin Smith, Deputy Treasurer, Department of Treasury
•        Michelle Lange, Director, Department of Technology, Management and Budget
•        Marlon I. Brown, Director, Department of Licensing and Regulatory Affairs

Others Present

•        Jeff Aronoff, Miller Canfield (dial in conference line)
•        Kevin Bain, City of Detroit (dial in conference line)
•        John Barton, Department of Treasury
•        Dave Boyne, Department of Treasury          
•        Nick Brousseau, Department of Treasury
•        Graham Davidson, Department of Treasury
•        Andrew Fillmore, Office of the Attorney General
•        Harlan Goodrich, Department of Treasury   
•        Ron Leix, Department of Treasury
•        John Naglick, City of Detroit (dial in conference line)
•        Jon Stuckey, Office of the Attorney General
•        Cary Vaughn, Department of Treasury
•        Austin Wright, Office of the Attorney General

1. Call to Order
   1. Kevin Smith called the meeting to order at 10:45 A.M.
2. Approval of Minutes
   1. A motion was made by Marlon I. Brown to approve the minutes from the meeting of September 16, 2021, as presented. The motion was supported by Michelle Lange.  The minutes were approved with 3 ayes and 0 nays as presented.
3. Public Comment
   1. None
4. New Business
   1. ELB Order 2024-1 - City of Detroit Financial Recovery Refunding Bonds
      1. John Naglick, Chief Deputy CFO/Financial Director-Controller for the City of Detroit and Kevin Bain, Director of Strategy from the City of Detroit proposed to the board ELB Order 2024-1, the financial recovery refunding bond transaction.  Jeff Aronoff, Miller Canfield, Bond Council to the City of Detroit concurred with the proposed transaction.
      2. Kevin Smith called for a motion to approve ELB Order 2024-1. A motion was made by Michelle Lange and was supported by Marlon I. Brown.  ELB Order 2024-1 passed with 3 ayes and 0 nays.
5. Adjournment
   1. Kevin Smith called a motion to adjourn and was supported with 3 ayes and 0 nays.  The Meeting was adjourned by Kevin Smith at 10:52 A.M.

Harlan Goodrich, Secretary, Local Emergency Financial Assistance Loan Board

Kevin Smtih, Deputy Treasurer, Local Emergency Financial Assistance Loan Board