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Finance director outlines $13.9 million stormwater bond plan approved by voters; timeline set for March sale
Summary
City finance officials described plans to issue up to $13.9 million in general obligation bonds for stormwater drainage and flood management projects; officials expect a Standard & Poor’s rating decision by March 10 and to go to market March 20 with settlement around April 3.
City finance staff and advisors gave council an overview Feb. 10 of plans to issue up to $13.9 million in general obligation bonds for stormwater drainage and flood management projects authorized by voters last November.
Joe Donnelley, the city’s finance director, said the bond proceeds will fund urban drainage projects, stream…
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