The Village of Lake Orion is looking to move around $500,000 earmarked for the streetscape and Children’s Park improvements from the water and sewer fund into Oakland County’s investment pool.
The pool currently earns over one percent interest, a great deal higher than the .14 percent currently earned by the water and sewer fund, and offers next-day liquidity. Village Treasurer Willa Smitko recommended moving the money at the village council’s Oct. 25 meeting.
‘This looks like a great program,? said Village Council President Ken Van Portfliet. ‘When I read this, I was thinking, ‘Gosh, I don’t know why we didn’t do this earlier.??