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Northfield sells $39 million in bonds at 3.97% and sets change‑order limits for Reimagine High School project
Summary
The Northfield Public School Board approved the issuance of $39,000,000 in general obligation school building bonds (Series 2025A) after a bond sale that produced a 3.97% interest rate; the board also adopted change‑order approval thresholds for the Reimagine Northfield High School construction project.
The Northfield Public School Board voted Monday to approve a resolution authorizing $39,000,000 in general obligation school building bonds, Series 2025A, and adopted formal change‑order approval limits for the Reimagine Northfield High School construction project.
The board approved the bond resolution after the district completed a bond sale earlier the same day. Shelby McWay of municipal advisor Ehlers told the board the sale produced a 3.97% interest rate for the $39,000,000 issuance, lower than the pre‑election estimate of 5% and better than the pre‑sale expectation of roughly 4.38%. McWay said the lower rate on this portion of borrowing…
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