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Newton reports successful $5.535 million general obligation bond sale; S&P affirms AA- rating
Summary
City finance staff reported the sale of $5,535,000 in 20-year general obligation bonds (Series 2025A) to Baird at a true interest cost of about 3.8196%. Standard & Poor’s affirmed the city’s AA- rating. Commissioners voted to ratify the sale and adopt related ordinance and resolution.
The Newton City Commission on an evening session received and ratified the sale of $5,535,000 in 20-year general obligation bonds (Series 2025A) and approved related ordinance and resolution after a report from the city’s municipal advisor.
Jessica Oliphant of Baker Tilly Municipal Advisors told commissioners the sale on Sept. 4 drew a competitive bid from a syndicate led by Baird of Milwaukee with a true interest cost of about 3.8196 percent. She said the par amount was reduced from…
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