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Eagan council approves $18.25 million bond sale to fund community center and utility projects
Summary
The Eagan City Council voted Feb. 18 to award the sale of $18,250,000 in general obligation tax abatement bonds, series 2025A, to finance improvements to the city’s community center and utility systems.
The Eagan City Council voted Feb. 18 to award the sale of $18,250,000 in general obligation tax abatement bonds, series 2025A, to finance improvements to the city’s community center and utility systems.
Tammy Amdahl, financial advisor with Northland Securities, told the council the city received 11 bids and recommended awarding the bonds to Fidelity Capital Markets of Boston, Massachusetts. Amdahl said Moody's Investors Service affirmed Eagan’s AAA rating and that Fidelity's low bid produced a final true interest cost of about 3.67 percent.
The bond sale was advertised initially as up to…
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