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Sedalia council authorizes up to $18.5 million in certificates of participation; approves $13.94M guaranteed maximum price for construction
Summary
The Sedalia City Council voted to authorize tax-exempt certificates of participation to fund a new central fire station, a fire training facility and a bowling alley, and approved a construction manager amendment establishing a guaranteed maximum price of $13,942,276 for the build scope.
The Sedalia City Council on Sept. (2025) approved issuing up to $18,500,000 in tax-exempt certificates of participation to finance a new central fire station, a fire training facility and a bowling alley, and approved an amendment to the construction-manager-at-risk contract that sets a guaranteed maximum price (GMP) of $13,942,276 for the construction scope.
The financing measure, enacted by ordinance (bill 2025-161), was discussed in a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing because part of the bowling-alley debt service will be paid with funds from a 501(c)(3) gift agreement the council previously approved. "The public hearing in front of you tonight is actually specifically it's called a…
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