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Eagan council approves resolution to pursue tax-abatement bonds for community center improvements
Summary
The Eagan City Council approved a resolution authorizing the process to issue general-obligation 'tax abatement' bonds that would fund improvements at the Eagan Community Center; no bonds were issued tonight and the not-to-exceed principal cited was about $616.5 million.
The Eagan City Council on Nov. 19 approved a resolution to move forward with issuing general-obligation "tax abatement" bonds to finance improvements at the Eagan Community Center.
City staff opened a public hearing on the matter and Tammy Amdahl of Northland Public Finance, the city's financial advisor, told the council that the session was a step in a multi-stage process. "Tonight, you are not issuing the bonds," Amdahl said, explaining…
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