Maple Plain awards two 2026 bond issues after competitive bids; rating slips to AA–

Todd Hagen of Ehlers and Associates presented the sale results for two general-obligation bond issues. He told the council the city’s underlying rating had been repositioned from AA to AA–, citing increased debt levels, limited geographic area and minimal tax-base growth, but said there was no further downward pressure. For series 2026A, Northland Securities submitted the low bid at about 3.70 percent and included a premium that allowed the city to lower the issue by $285,000 (from $4.84 million to $4.55 million). Council voted to award series 2026A to Northland Securities by voice vote, 5–0.