Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Oak Grove approves $14.12 million bonds to finance fire station and city hall
Summary
The council voted 5-0 on June 9 to authorize sale of general obligation capital improvement bonds (Series 2025A) to fund a combined fire station and city hall project; officials and the city's financial advisor presented projected levy impact and a timeline for sale and receipt of proceeds.
On June 9, the Oak Grove City Council authorized Resolution 2025-0582 to sell general obligation capital improvement bonds (Series 2025A) that city staff and bond advisers said will finance construction of a new fire station and city hall.
Jake (Baker Tilly) told the council the bonds' total par amount is $14,120,000, with roughly $14,000,000 budgeted for construction. The financing structure presented calls for a 30-year term with principal payments beginning Feb. 1, 2026, and final principal payment Feb. 1, 2055, and semiannual interest payments on Feb. 1 and Aug. 1.
Jake and his colleague Ryan (Baker…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
