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Council approves parameters resolutions for two 2025 bond issues totaling up to $10.35 million
Summary
The council approved parameters resolutions sending two bond financings to the June pricing process: a not-to-exceed $9.75 million general-obligation issue for street, alley and utility projects and up to $600,000 in taxable TIF bonds for the mall project.
The Virginia City Council on Tuesday approved parameters resolutions that clear the way for two bond financings the city intends to price in early June.
George Eilertsen of Northland Securities, filling in for Baker Tilly's Steve Scharf, summarized the schedule: the council reviewed parameters May 20, the council will consider formal approval May 27, bond pricing is targeted for June 3, and a ratifying resolution would follow at the June 10 council meeting.
The first financing is a general-obligation bond for street and utility improvements (projects cited included 14th Avenue, 20th…
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