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Urbana Park District awards $1,002,665 rollover bonds to Time Bank at 3.07%
Summary
The Urbana Park District board voted unanimously Dec. 9 to award $1,002,665 in one-year general obligation limited-tax park bonds (series 2025) to Time Bank (Park Ridge, Ill.) at a 3.07% net interest cost; closing is expected Dec. 18 and the issue matures 12/15/2026.
The Urbana Park District board voted unanimously on Dec. 9 to award its 2025 annual rollover park bonds — Ordinance 2025‑06 — to Time Bank of Park Ridge, Illinois, at a net interest cost of 3.07%, a district presentation shows. Aaron Gold, an independent municipal advisor with Spirit Financial, presented results of a competitive sale that drew four bids and recommended awarding the $1,002,665 issue to Time Bank.
Gold said the low bid of 3.07% was 62…
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