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North St. Paul awards $6.53M bond sale and approves $5.14M street-reconstruction contract
Summary
Council accepted results of a $6.53 million general-obligation bond sale at a 4.02% true interest cost, noted an S&P upgrade to AA+, and awarded the 2025 Street and Utility Improvement Project contract to RL Larson for $5,137,768.48 plus a $625,936 construction services agreement to WSB.
The North St. Paul City Council approved the sale of $6,530,000 in general obligation bonds to finance street reconstruction and utility work and awarded construction and professional-services contracts for the 2025 Street and Utility Improvement Project.
Michaela Hewitt of Baker Tilly presented the bond-sale results, saying market volatility pushed presale estimates higher but the city’s actual sale priced with a true interest cost of about 4.02 percent. Hewitt also reported that Standard & Poor’s upgraded North St. Paul’s rating to AA+, a step the city’s finance staff attributed to stronger reserves, formal fund-balance policy adoption and long-term operating forecasting.
With bond proceeds available, the council then considered the 2025 Street and Utility Improvement Project (City project 25-01). City engineer Dolly summarized the work as full roadway reconstruction on multiple neighborhood streets, stormwater improvements at Casey Lake Park, new curb and gutter, new water mains and services to property lines, and sanitary-service replacements where needed. Dolly said the city opened bids April 7 and that the low construction bid, from RL Larson Excavating, was $5,137,768.48. The council approved awarding the construction contract to RL Larson and separately approved a construction-phase services agreement with WSB for $625,936 to provide full-time construction observation, surveying and contract administration.
Dolly said staff expect city construction to begin in late May or early to mid-June, with substantial completion of the drivable roadway and utility work by October and limited follow-up work in 2026 for landscaping and final asphalt. Staff also announced a public open house on the Casey Lake project the following day from 6 to 7 p.m.
Council members asked about contractor qualifications and protections in the construction contract. Staff noted that the contract requires a performance bond and includes quality-control testing and review of concrete mix designs; city inspectors and WSB will oversee compliance and respond to neighborhood concerns during work. The city also included a 5 percent contingency in project budgeting.
Council Member Kinsey moved to award the bond sale and the construction and services contracts as recommended; the motions carried. The council’s actions finalize financing and contract awards so work can proceed in the neighborhood this construction season.
