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Bettendorf council awards bond sale, adopts zoning and traffic ordinances; vote summary
Summary
At its Feb. 18 meeting the council awarded a $16.3 million general obligation bond sale, approved a rezoning ordinance on third reading and advanced/approved several traffic and school‑zone ordinances. The bond sale received a AA+ S&P rating and a low true interest rate of 3.7487%.
The Bettendorf City Council took multiple formal votes on Feb. 18 including a municipal bond award, zoning and traffic ordinances.
Bond award: The council accepted the recommendation of municipal advisors Baker Tilly and awarded the sale of $16,300,000 in general obligation bonds series 2025A to the lowest bidder (bid submitted at a true interest rate of 3.7487%). Because the bonds were sold with a premium, the par amount was reduced to $15,745,000; the adjusted purchase price was…
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