Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
EDA briefed on proposed lease-revenue bond plan to finance Moorhead City Hall reconstruction
Summary
City Attorney John Shockley told the Moorhead EDA the authority would sell lease revenue bonds to finance reconstruction of City Hall, with the EDA retaining land ownership, the city paying lease amounts equivalent to bond payments and purchasing the property for $1 at bond maturity; no EDA action was taken and resolutions are expected next month.
The Moorhead Economic Development Authority received an informational briefing on a proposed financing structure for a reconstructed City Hall. John Shockley, identified in the meeting as the city attorney, described a plan in which the EDA would sell lease revenue bonds to finance the project, retain ownership of the ground beneath City Hall during the bond term, and enter a lease…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
