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New Prague council moves $12 million police station project into construction documents
Summary
After reviewing financing options, the council voted to advance a proposed $12 million police station into construction documents; staff and advisors outlined bond and EDA lease options and cautioned about timing with bonding and state sales-tax moratoriums.
The New Prague City Council voted on Nov. 18 to move the proposed $12 million police station project into the construction-document phase after a presentation on financing options from Rebecca Kurtz of Ehlers.
Kurtz presented three high-level financing paths under Minnesota statute: a referendum using general obligation (GO) bonds (lowest interest but costlier for a special election), EDA lease-revenue bonds (avoid referendum but higher interest…
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