Pontiac, Michigan – County Executive David Coulter today announced the sale of series of Oakland County Building Authority Bonds that will fund part of a new emergency radio system, refinance outstanding bonds at a lower interest rate and save taxpayers millions of dollars.

The high demand for the bonds resulted in a lower interest rate, benefiting the county and taxpayers. Seven sealed bids were received for the bonds.

“This was a great day for the taxpayers of Oakland County,” Coulter said. “The strong demand for the Building Authority bonds shows that investors are willing to put their dollars behind Oakland County. The credit ratings agencies also displayed strong confidence in Oakland County’s economic and financial health by affirming our Aaa/AAA credit ratings.”

The initial bond sale was scheduled for March 24 but postponed due to the financial crisis associated with the COVID-19 pandemic. Since that time, the index used to establish interest rates for tax-exempt bonds has fallen approximately 150 basis points or 1.50 percent.

The exceptional high demand resulted in a lower interest rate on the bonds or a true interest cost of 1.32 percent for bond maturing in the years 2020 through 2039. The bond proceeds will be used to fund a portion of the county’s new emergency radio communication system and to refinance six outstanding Building Authority bond issues. The refinancing portion of the transaction resulted in interest savings of $2,197,300 for the county or local units of government that rent facilities from the county.

Prior to the bond sale, credit rating agencies conducted a thorough review of the county’s economy and finances in order to assign a credit rating. The county’s credit ratings were affirmed by Moody’s Investor Services at “Aaa” Stable and Standards and Poor’s at “AAA” Stable. These strong ratings allow the county to borrow money at a lower interest rate, which translates to taxpayer savings and reflects the general creditworthiness of the County. Miller, Canfield, Paddock and Stone, P.L.C. served as bond counsel, with Robert W. Baird as municipal advisor on the sale.

Waterford, Michigan – Oakland County Michigan Works! is launching a series of virtual workshops for people who have been impacted by the COVID-19 pandemic and are interested in exploring new career opportunities.

The interactive online workshops replace in-person ones previously available at service centers that closed to visitors because of the pandemic. The one-hour guided sessions help prepare people for their next career opportunity and include a question and answer period.

“Getting our residents back to work is one of our top priorities as the economy begins to reopen and businesses resume operations,” Oakland County Executive David Coulter said. “Oakland County Michigan Works! provides valuable career assistance and these virtual workshops give people expert advice that can lead to future employment and a meaningful career.”

Hosted by trained career counselors, the virtual workshops are being held online now through early June, with an expanded schedule planned. Topics include:

• Resume Writing: Preparing a Resume that Gets Attention – May 15, 22, 29 & June 5
• Job Interview Tips: Making a Great Impression with an Employer – May 19, 26 & June 2
• The Language of LinkedIn: Using the Popular Career Tool the Right Way – May 18
• Career Transitions: Switching Careers and Flourishing in Today’s Economy – May 14, 21, 28 & June 4
• Gig Jobs: Exploring Non-Traditional Employment Opportunities – June 1
• Unemployment and Budgeting: Navigating the Unemployment Process and Making Smart Budgeting Decisions – May 13, 20, 27 & June 3

To register for a virtual workshop or review the schedule, visit www.Oakland-County-Michigan-Works.Eventbrite.com.

“As businesses reopen, we hope people will be able to return to their previous positions but, in the event that they cannot, we are here to help prepare them for a job search,“ said Jennifer Llewellyn, director of Oakland County Michigan Works!

“Our customers use our services each month to build new skills, make new connections and find new career opportunities. Now is an ideal time to work with us as you prepare for and launch a job search. We are ready to support you on a virtual basis and we hope to resume in-person appointments sometime in the future.”

Lewellyn said the six service centers in Oakland County work with businesses across the region to support their workforce development needs, from assistance in recruiting talent and training opportunities, to employee retention programs. The goal is to help employers attract and employ talent across the job spectrum.

Oakland County Michigan Works! operates service centers in Novi, Oak Park, Pontiac, Southfield, Troy and Waterford. Combined, they assist more than 105,000 job seekers annually. Services include career coaching, interviewing workshops, job search workshops, placement assistance, training courses and job trend information. The Oakland County service centers also assist more than 3,000 employers seeking assistance with talent recruitment, apprenticeship programs, job fairs, candidate pre-screening, hiring and training support, layoff support and labor market data.

Service center staffs remain available by virtual appointment to work one-on-one with job seekers to build their resumes, prepare for job interviews and help address other needs. To schedule a virtual meeting, call 1-800-285-WORK.