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Waite Park council approves resolution authorizing up to $10 million in CIP bonds for municipal facility work
Summary
The Waite Park City Council voted March 17 to adopt the city's Capital Improvement Plan for 2025–2029 and to authorize issuance of general obligation capital improvement plan bonds in an amount not to exceed $10 million for a municipal facilities project that combines a public safety facility and city hall expansion.
The Waite Park City Council on March 17 adopted the city's Capital Improvement Plan for 2025–2029 and approved a resolution authorizing the issuance of general obligation capital improvement plan (CIP) bonds in an amount not to exceed $10,000,000 to finance a municipal facilities project that includes expansion of the public safety facility and city hall.
Tammy Umdahl of Northland Securities, the city's financial advisor for the sale, told the council the total not-to-exceed amount discussed in the presentation for the entire financing package is $29,000,000; of that, the portion subject to the public hearing and council action for CIP financing is limited to $10,000,000. Umdahl said…
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