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Bismarck commissioners approve two bond sales, award airport and architect contracts and adopt revised special‑assessment policy
Summary
The Bismarck Board of City Commissioners on Nov. 25 approved two bond sales totaling about $17.13 million, awarded airport and architectural-service items on the consent agenda, and adopted revisions to the city's special assessment policy after a public hearing with no public speakers.
The Bismarck Board of City Commissioners approved two bond authorizations and several consent agenda items and adopted a revised special‑assessment policy at its Nov. 25 meeting.
City finance staff introduced two separate bond issues: the 2025 refunding improvement bonds (Series U) with a par amount of about $15,295,000 and a true interest cost of 3.135% on a 15‑year maturity, callable in 2033; and the Sidewalk/Curb & Gutter warrants (Series SCG 2024) with a par amount of about $1,835,000 and a true interest cost of 3.2035% on a 10‑year maturity, callable in 2031. John Lundby of Collier Securities said both public sales drew competitive bids and planned closings are on Dec. 9. "The winning bid for the ... issue resulted in a true interest cost of 3.135% to the…
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