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Newton commissioners authorize offering $5.973 million in general-obligation bonds
Summary
The Newton City Commission approved Resolution G1362 to offer general-obligation bonds to fund city-at-large and special benefit district projects; the sale is scheduled for Sept. 4 with ratification at the Sept. 9 meeting.
The Newton City Commission voted to approve Resolution G1362 to offer $5,973,000 in general-obligation bonds to finance four city-at-large projects, five special-benefit-district projects and the costs of issuance.
City staff said the bonds are structured with an approximately level annual debt service over a 20-year repayment term and estimated annual debt service of about $420,000. The bonds will be sold…
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