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Council awards two sales-tax bond issues to fund community health and wellness center
Summary
Bloomington authorized sale of two sales-tax–backed bond issues totaling about $91.6 million to finance the community health and wellness center; both resolutions passed unanimously July 14.
The Bloomington City Council on July 14 unanimously approved two bond resolutions to sell sales-tax–backed bonds and general obligation sales-tax bonds to fund the city’s community health and wellness center.
Why it matters: The bond proceeds will supply the project financing voters approved in a prior sales-tax referendum and allow the city to move forward with the center’s construction and debt service already planned in the city budget.
The council’s finance director, CFO Laurie Economy Schroeder, opened the presentation by saying, “Today was a great day in the market for us,” and described competitive results from a July 14 bond sale. Schroeder told the council the city issued a taxable sales tax revenue bond (Series 2025A) and a general…
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