Calhoun County plans to issue Pension Obligation Bonds during 2021, in order to pay for unfunded liabilities associated with two defined benefit pension plan divisions recently closed to new hires.  The issuance of bonds is estimated to provide significant savings compared to what the county would otherwise be required to pay into the pension fund based on amortization schedule over the next twenty years.  This bond issuance does not request an increase in the County's levied property tax millage.

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