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Webster Groves sells $17.195 million in general obligation bonds at a premium; council approves bond authorization ordinance
Summary
City finance director reported the sale of $17,195,000 in general obligation bonds for 'Destination WG' with 11 bids, a premium of $762,000 and Raymond James as the winning bidder. The council adopted the ordinance authorizing the bonds.
The Webster Groves City Council approved Bill 9,275, authorizing the issuance and sale of general obligation bonds, series 2025, after Finance Director Gregory Donovan reported that the city sold $17,195,000 in bonds earlier that day at a premium.
Donovan told the council the sale drew 11 bids; Raymond James submitted the most competitive bid and picked up the issue. He said the sale produced a premium of $762,000 in addition to the principal amount and that the market…
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