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Council approves $5 million certificates of obligation to fund Bay City public-safety building; competitive sale awarded to Baker Group
Summary
The council authorized issuance of $5 million in tax and revenue certificates of obligation to finance a public-safety building; city financial adviser reported the competitive sale drew multiple bids and the lowest true interest cost came from the Baker Group.
Bay City Council approved an ordinance authorizing the issuance and sale of up to $5 million in tax and revenue certificates of obligation to finance the city’s public-safety building project.
James Gilly of US Capital Advisors presented the results of the city’s competitive bond sale process and said the sale attracted multiple underwriters. "We advertised the sale of the city's bonds by distributing those…
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