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Park City accepts Robert W. Baird bids, approves issuance of 2025 general obligation bonds and temporary notes
Summary
Park City officials accepted bids from Robert W. Baird & Co., approved an ordinance and resolutions to issue 2025 series general obligation bonds and a 2025 temporary note, and discussed sale particulars including a recent S&P rating upgrade and how temporary notes will be converted to bonds.
Park City accepted the best bids from Robert W. Baird & Co. and authorized issuance of the city’s Series 2025 general obligation bonds and a 2025 temporary note at its Aug. 12 council meeting.
The action followed a presentation by Larry Klayman, the city’s financial adviser with Ransom Financial, who said S&P Global raised the city’s rating from “double A-minus” to “double A,” a change he said would lower interest costs. “They actually increased the rating from double a minus up a notch to just regular double a,” Klayman said.
The council voted 7-0 to accept Baird’s bid for the bond sale and approved…
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