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Spring Hill council approves $3.55 million bonds and $28.33 million temporary notes to finance street and sewer work
Summary
The Spring Hill City Council approved an ordinance and two companion resolutions to issue $3,550,000 in general obligation bonds (series 2025A) and $28,330,000 in general obligation temporary notes (series 2025B) to permanently and temporarily finance multiple public-improvement projects, including Webster Street work and sewer improvements.
The Spring Hill City Council voted to approve the long-term financing package for several public-works projects, adopting an ordinance authorizing $3,550,000 in general obligation bonds and resolutions authorizing delivery of those bonds and $28,330,000 in general obligation temporary notes.
City staff said Robert W. Baird received the winning bid for the $3.55 million bond issue at 5.32 percent; staff and the finance adviser described the sales as competitive and said the taxable bonds have a tax-exempt equivalent yield near historic city borrowing levels. The council approved Ordinance 2025-08, and the clerk recorded the final vote as “Ordinance 2025-08 passes six-zero-zero.”
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