Ehlers representative Rebecca Kurtz presented results of the city’s bond sale taken Nov. 25 and recommended awarding the $6,160,000 general obligation sales tax revenue bonds, Series 2025A. Standard & Poor’s assigned a AA+ rating with a stable outlook for the bonds and the city’s outstanding general obligation debt.

Kurtz said the low bid produced a true interest cost of approximately 3.0656%, below staff estimates, and that the issue is structured to be paid from local sales tax revenue. Most proceeds will fund the Veterans Park Complex (about $5,000,000) and roughly $1,000,000 will complete the Woodlake Nature Center project. The bonds have a five‑year term and are callable beginning February 2029. Council approved awarding the sale by roll call.

Staff said the structure assumes sales tax revenues will cover debt service and that this sale is one of multiple anticipated sales tied to the city’s capital plan.