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St. Joseph approves $977,000 bond sale to fund 2024 street work after debt review
Summary
The St. Joseph City Council on Aug. 19 approved the issuance and sale of $977,000 in general obligation bonds to finance 2024 street improvements after a presentation from Northland Securities on the citys debt profile and credit rating.
Tammy Amdahl of Northland Securities told the St. Joseph City Council on Aug. 19 that the citys debt is structured for rapid amortization and that the tax levy remains the primary revenue source for debt-service payments.
Amdahl, the citys bond advisor, said the recently sold series 2024A bonds were priced in a negotiated sale and purchased by TD; she reported the final par amount was…
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