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Finance committee recommends council hire Ehlers to review bond arbitrage for sanitary lift-station bond
5071322 · June 25, 2025
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Summary
Committee approved a motion to recommend common council engagement of Ehlers to perform an IRS-required arbitrage review for outstanding bond proceeds related to the 2021 sanitary-sewer lift station and other projects; staff said Ehlers' fee is about $5,000.
Finance staff told the committee the city issued a 2021 bond for sanitary-sewer lift station work and stormwater projects and that a portion of the bond proceeds remain unspent on the sanitary sewer lift-station component. Under Internal Revenue Service rules, the city should engage an arbitrage consultant to determine…
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