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Johnston City to sell $12.97 million in general obligation bonds; low bid from TD Securities
Johnston City Council · June 17, 2025
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Summary
PFM and city staff recommended awarding $12.97 million in general obligation bonds to TD Securities at a 4.67% yield; staff said the rate is roughly 1.8 percentage points lower than budgeted and could save about $1.4 million in interest over the bonds' life.
Johnston City staff and municipal adviser PFM recommended and the council approved awarding a $12,970,000 general obligation bond issue (Series 2025A) to TD Securities after competitive bids were opened May 20.
PFM reported nine bids with a low bid from TD Securities at a 4.67% yield and a cover bid from…
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