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Helena staff report successful bond sale process ahead of vote to authorize $7 million GO bonds for fire station
Summary
City staff reported a competitive bond sale and a strong credit rating in advance of a resolution scheduled Monday to authorize the issuance and sale of up to $7,000,000 in general-obligation bonds to buy land and build a fire station and training center.
City finance staff told the Helena City Commission on July 16 that the city’s process to issue general-obligation (GO) bonds for a new fire station and training center has produced strong investor interest and a favorable credit rating, and that a formal resolution to authorize the sale will be brought to the commission for adoption at the next meeting.
Finance director Dan (title given in meeting) summarized the rating and bidding process, saying the city received a positive rating from S&P Global and strong market interest when bonds were offered. Dan said, “we ended up with a premium on the…
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