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Coeur d'Alene approves $16.4M bond sale authorization, authorizes purchase of four engines and a ladder truck
Summary
City council adopted an ordinance authorizing up to $16.4 million in general-obligation bonds to fund public-safety projects and approved purchase agreements totaling $6,221,422 for four fire engines and one ladder truck.
The Coeur d'Alene City Council on Aug. 5 adopted an ordinance authorizing the issuance and sale of up to $16.4 million in general-obligation bonds and approved purchase agreements for four fire engines and one ladder truck to be funded from the bond proceeds.
The bond ordinance, described by municipal advisor Michael Merritt as necessary to deliver the projects voters approved, sets parameters for a 10-year borrowing plan and delegates authority to city officers to finalize sale terms. "We're very close to what we said," Merritt told the council, describing recent market movement and a…
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