Gas Fund Proposal
Shall the City of Escanaba be authorized to use the principal and interest received from the 1965 sale of the City s gas utility to pay for the unfunded accrued liabilities of any defined benefit retirement plan sponsored by the City, but only to the extent such liabilities exist as of November 4, 2025? If approved, thihs proposal will replace the restrictions approved by voters on November 2, 1965 that required the City to invest all principal received from the sale and use only the interest for capital improvements.
