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St. Francis council approves presale resolution for $2.92 million general obligation note
Summary
Council heard a presale report from Eller's and voted to introduce and adopt a resolution to sell a $2,920,000 general obligation promissory note (Series 2026A) to reimburse 2025 street projects and finance 2026 capital work; debt service will be paid from property taxes.
Casey Griffith, senior financial specialist with Eller's, presented the council with a presale report on Jan. 6 for a proposed $2,920,000 general obligation promissory note, Series 2026A, saying the borrowing would reimburse the city for 2025 street improvement projects and finance 2026 street, alley and sidewalk projects plus capital equipment.
"There's three purposes for this debt issuance," Griffith told the council, explaining the notes carry a 16-year term with principal…
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