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Council approves bond parameters to finance Marilla Park renovation, sets pricing schedule
Summary
City Council approved a supplemental parameters resolution allowing the Morgantown Building Commission to issue up to $11 million in lease revenue bonds to finance Lower Marilla Park improvements; pricing is scheduled next week with a two‑week closing window.
City Council on Oct. 7 adopted a supplemental parameters resolution authorizing the Morgantown Building Commission to sell lease revenue bonds for the Marilla Park improvement project in an amount not to exceed $11,000,000.
The action finalizes the financing documents and allows the city and its underwriters to publish a preliminary official statement and proceed with a negotiated bond sale. Tom Amen of Steptoe & Johnson, bond counsel, and Rob Steptoe of Cruz & Associates, the underwriter, described the timing: the preliminary official statement will be posted to the market, investors will indicate interest, and pricing is…
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