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Council authorizes presale report for $4.33M general obligation bond to fund water projects
Summary
The council approved a presale report and resolution authorizing the issuance of General Obligation Bond Series 2024A, proposed at $4,330,000, to finance wells, watermain, equipment and preliminary water-plant expenses; staff and advisors expect bids and an October 7 sale date and reported a AA+ rating.
The Minnetrista City Council approved a presale report and resolution to issue General Obligation Bond Series 2024A with a proposed aggregate principal amount of $4,330,000 to finance water infrastructure.
Todd Hagen of Ehlers & Associates reviewed the presale report, which allocates roughly $2,500,000 for wells and water main (20-year term), about $600,000…
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