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Council approves $20M in voter-authorized transportation bonds; staff outlines project schedule
Summary
City Council gave final approval to a general-fund revenue bond issuance that will generate roughly $20 million for voter-authorized transportation projects, with pricing expected in November and closing in December. Staff emphasized cost escalation and a multi-year construction schedule.
The Grand Junction City Council voted Oct. 15 to adopt an ordinance authorizing a new series of general-fund revenue bonds intended to finance transportation projects included in a voter-authorized package.
Chief Financial Officer Jay Valentine told council staff expects to sell bonds with a par value of $19,125,000 to generate approximately $20,000,000 in project funds after market premium, and estimated an interest-rate…
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