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Marshall City Council OKs resolution to declare intent to reimburse MMU bond expenditures
Summary
The Marshall City Council approved a resolution declaring the city's intent to allow Marshall Municipal Utilities to reimburse certain project costs from future tax‑exempt bond proceeds; councilmembers and staff said the step is standard ahead of a planned MMU bond issuance with a maximum principal of $15,700,000.
The Marshall City Council voted to approve a resolution declaring the city’s official intent to reimburse certain expenditures from proceeds of tax‑exempt bonds or other obligations to be issued by Marshall Municipal Utilities.
EJ Moberg, director of administrative services, told the council that Marshall Municipal Utilities (MMU) is planning a bond issuance later this year and that the resolution is a routine step to preserve the utility’s ability to reimburse itself for prior project costs.…
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