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Lakeville approves $22.25 million general obligation bonds to fund streets, rehabilitation and first‑responder training center
Summary
The council authorized issuance and sale of $22,250,000 in general obligation bonds, Series 2025A, to finance 2025 street reconstruction, collector rehabilitation and a first‑responder training facility; bond sale drew 13 competitive bids and Moody's affirmed the city's AAA rating.
The Lakeville City Council on March 17 approved a resolution authorizing the issuance, sale and payment terms of $22,250,000 in general obligation bonds, Series 2025A, to finance street reconstruction work, collector rehabilitation and a portion of the capital improvement program for a first‑responder skills training center.
City finance staff reported a competitive bond sale earlier that day that drew 13 bids, with Piper Sandler the apparent low bidder. Moody's confirmed Lakeville's AAA bond rating, which staff and the city's financial adviser said contributed to strong market interest. "We had a very positive bond sale this morning," the…
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