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Lehman Brothers Collection

Twentieth-Century Business Archives

County of Monroe, Michigan Deal - Lehman Brothers Collection

County of Monroe, Michigan

Company Deal$22,550,000 pollution control revenue bonds, series B
Transaction TypePollution Control Revenue Bonds
Deal DescriptionThe County of Monroe, Michigan, issued the bonds to finance the cost of acquisition, installation, and construction of air pollution control facilities, including the costs of the bond issue, for sale to the Detroit Edison Company (the Company) for use at its Monroe Plant. The pollution control facilities (the Project) to be financed by the sale of the bonds were sold to the Company pursuant to an installment sales contract between the municipality and the Company. The Project consists of certain air pollution control equipment including certain rights in land. It was acquired, constructed, and installed as a part of the Monroe Plant of the Company located on the shore of Lake Erie in Monroe County. The Project was composed of two parts: an electrostatic precipitator serving unit no. 4 of the Monroe Plant and a fly ash transport and disposal system serving all four units at the Monroe Plant. The electrostatic precipitator consisted of an electrostatic precipitator, an auxiliary electrostatic precipitator, concrete floors and substructure, structural steel superstructure, and related electrical equipment, instrumentation, and ductwork. The purpose of the electrostatic precipitator was to remove particulate matter from the flue gas discharge of the boiler at unit no. 4 by the electrostatic charge and magnetic attraction process prior to release of the gas to the stack. The fly ash transport and disposal system consisted of pump houses, pumps, tanks, piping, pipe supports and bridges, electrical equipment, instrumentation, and dikes and other improvements forming primary and secondary fly ash settling basins. The purpose of the fly ash transport and disposal system was to dispose of fly ash collected in the precipitators at units no. 1, 2, 3, and 4 of the Monroe Plant.
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