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Story County board names Luana Savings Bank lender for $4 million conservation bonds
Summary
The Story County Board of Supervisors voted unanimously Dec. 2 to award Luana Savings Bank as lender for a $4,000,000 issuance of general obligation conservation bonds and adopted Resolution 26-18 to authorize the series; Piper Sandler recommended Luana for its flexible call feature and comparable true interest cost.
The Story County Board of Supervisors voted Dec. 2 to award Luana Savings Bank as the lender for a $4,000,000 series of general obligation conservation bonds and adopted a resolution authorizing the issuance.
Piper Sandler placement agent Travis Squires told the board the bidding produced multiple competitive offers from national and local banks. "We saw a really nice group of national banks show up to submit proposals," Squires said, and recommended the Luana Savings Bank proposal for its combination of a low all‑in true interest cost (TIC) and a flexible call feature.
Squires explained that some large banks submitted both callable and non‑callable…
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