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St. Paul approves sale of 2025 general obligation bonds after competitive bids; city keeps strong credit ratings
Summary
The council approved resolutions accepting competitive bids for the 2025A general obligation various purpose bonds and the 2025B street reconstruction bonds. Staff reported winning bids and interest costs below or near last year’s levels and noted S&P and Fitch assigned a AAA stable outlook.
The St. Paul City Council approved resolutions authorizing the sale and issuance of general obligation bonds for 2025 on a series of motions the council adopted unanimously.
Veil Youngens, debt investment manager in the Office of Financial Services, told the council the city received multiple competitive bids for two bond sales. "We received 11 bids, with UMB Bank receiving the winning bid with the lowest true interest rate cost of 3.27% for a 10 year term," Youngens said. For the street…
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