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County awards $28.165 million G.O. bonds to fund new public works facility after strong bidding
Summary
Blue Earth County sold general obligation capital improvement bonds to fund a new public works facility; 15 bidders participated, Huntington Securities won with a true interest cost of 3.7116%, and S&P assigned a AA+ rating.
Blue Earth County commissioners on Sept. 23 approved awarding the county's general obligation capital improvement bonds, Series 2025A, to Huntington Securities after a competitive sale produced favorable pricing and a strong credit rating.
The bonds will finance construction of a new public works facility and pay issuance costs. Christine Hogan, a municipal advisor from Baker Tilly, said the county sold bonds with a stated par in the sale process and that proceeds will be used for the project. The bonds will be repaid over 20 years and are supported by ad valorem (property tax) levies; they have an optional redemption date of Dec. 1, 2035.
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