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Moorhead approves short-term 2025 bond sales for mall redevelopment and improvement and wastewater refunding
Summary
Moorhead approved two resolutions authorizing separate 2025 bond issues: $11.56 million in temporary improvement bonds for mall redevelopment and $16.575 million in improvement and wastewater refunding bonds.
The Moorhead City Council approved two separate bond resolutions that clear the way for the city to sell 2025 general-obligation bonds, municipal advisor Chris Hogan told the council during a presentation.
Hogan, director at Baker Tilly and the city’s municipal advisor, said the city will sell $11,560,000 in general obligation temporary improvement bonds, series 2025A, to finance improvements in the mall redevelopment area and to provide short-term capital until longer-term financing is arranged. He said the 2025A issue is structured as a three-year financing with capitalized interest.
Hogan said the…
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