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Burnsville awards $68.61M in general obligation bonds for city hall and police project at lower-than-expected rate
Summary
The council approved the sale award for general obligation capital improvement bonds, series 2025A, to fund the combined city hall and police station project. Staff said the city received eight bids with a low of 3.96% and a high of 4.08% and reduced par amount to $68,610,000 after premium.
The Burnsville City Council approved a resolution awarding the sale of general obligation capital improvement bonds, series 2025A, to fund expansion and renovation of the combined city hall and police station.
Municipal advisor Dan Tintner told the council that Ehlers solicited bids on behalf of the city and that eight proposals were received. "It was considered really a strong test of…
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