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Sale-day report: city issues general obligation promissory notes at sub-3% TIC, yields budgeted interest savings
5809682 · September 12, 2025
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Summary
The committee received a presentation on bids for the general obligation promissory notes series 2025A; the low bid produced a true interest cost under 3% and generated a premium that reduces near-term interest expenses.
On Sept. 3, 2025, the city accepted bids for its general obligation promissory notes series 2025A; the Finance Committee received the sale-day report at its Sept. 9 meeting. According to staff and the city's financial advisor, the sale attracted nine…
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