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Waverly approves $10.215 million general-obligation bond sale to fund pool and capital projects
Summary
The City Council unanimously approved a $10,215,000 general-obligation bond issue (Series 2025A) that includes financing for the municipal pool and other capital projects; the sale yielded a 3.896% interest rate and a Moody's AA3 reaffirmation.
The City Council of the City of Waverly on May 5 approved a resolution directing the sale of $10,215,000 in general obligation bonds, series 2025A, to finance the municipal pool and annual capital improvements.
Maggie Berger, with Spear Financial, told the council the bonds sold today at a true interest cost of 3.896% and that the city received a small market premium of roughly $66,000. Berger said Moody’s reaffirmed the city’s AA3 rating and that…
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