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Elston Park Metro District seeks council approval to issue up to $4 million in bonds for ongoing development
Summary
City planning staff summarized a request by Elston Park Metropolitan District for council approval of a first bond issuance not to exceed $4 million to fund ongoing on-site development. Staff said the district expects the actual issuance to be about $2.3 million senior bonds and $300,000 subordinate bonds and that the district contains about 167
Elston Park Metropolitan District asked the City Council on Sept. 22 to approve a resolution allowing the district to issue senior and subordinate limited-tax general obligation bonds with a maximum aggregate principal of $4 million to finance ongoing public improvements in a new subdivision.
Why it matters: The bond issuance would be the district—s first debt issuance to support construction of public infrastructure for a developing…
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