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Fergus Falls council approves nearly $15 million bond sale to fund aquatic center, park and street projects
Summary
The council approved a bond sale that will net $14,950,000 in construction funds for a new aquatic center, Day Lagoon park improvements and street projects. Finance Director Bill Sommer said the sale attracted 12 bidders; the low true interest cost was 3.3% and the debt matures Feb. 1, 2038.
Fergus Falls — On July 15, the Fergus Falls City Council approved a bond sale to finance an aquatic center, Day Lagoon park improvements and several street projects.
Finance Director Bill Sommer told the council the city invited bids and received 12 responses. The sale was structured with a par amount of $16,870,000 but, because the purchaser paid a…
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