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Council approves bond sale for salt shed, authorizes up to $28M for fleet garage
Summary
Bloomington council awarded a $11.245 million general-obligation bond sale to fund a salt shed and authorized up to $28 million in tax-exempt bonds for a new public-works fleet garage, with council members saying the projects are long‑planned parts of the 2026 capital program.
The Bloomington City Council voted unanimously to accept the lowest bid on a general-obligation bond sale to fund a new salt shed and separately authorized the city to issue tax-exempt bonds of up to $28 million for a replacement fleet garage.
Laurie, the city’s CFO, told the council the Series 2025E bond sale drew 11 bidders; after applying premium proceeds the par amount to be issued is $11,245,000. “In this particular bond, the project cost needs $12,000,000, and it’s, again, for the land acquisition for the salt shed and for the…
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