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Council approves bond sale to finance new fire station; proceeds due Aug. 14
Summary
Oak Grove council voted 4-0 to award a competitive bond sale that will fund construction of a combined city hall and fire station; final proceeds expected Aug. 14, 2025, and the financing produced a lower-than-expected interest cost.
The Oak Grove City Council voted unanimously on July 14 to award the Baker Tilly-recommended bond sale to the low bidder to finance construction and equipping of the citys new fire station and city hall project. City staff said the bonds were sold competitively and the city will receive the proceeds on Aug. 14, 2025.
City staff reported the transaction performed better than the conservative estimate provided a month earlier. The staff presentation listed a total par amount priced at $14,035,000, with $14,000,000…
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