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Leawood adopts $11.21 million general obligation temporary notes to refinance outstanding debt
Summary
Council approved a resolution authorizing issuance and private placement of Series 2025-1 general obligation temporary notes to refinance an outstanding note; city expects new note size of $11,210,000 after contributing $3.9 million toward payoff.
The Leawood City Council on July 21 adopted a resolution authorizing the issuance, sale and delivery of Series 2025-1 general obligation temporary notes to refinance existing city debt.
Finance staff described the sale as a private placement soliciting bids directly from banks rather than a public offering. City staff said they distributed a two-page term sheet to roughly 18 banks; the city received six bids and chose the winning bid from…
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