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Urbana Park District staff report low 3.07% bid on Series 2025 bonds; board moves to consider abatement ordinance
Summary
A municipal advisor reported a winning 3.07% net interest cost bid for the district's Series 2025 annual rollover bonds and told trustees the closing is expected Dec. 18. Staff also introduced Ordinance 2025‑07 to abate the Series 2019A backup levy; a motion was moved and seconded but the transcript does not record a final vote.
Aaron Goldman, identifying himself as the municipal advisor from Spear Financial, told trustees the district received four bids in a competitive sale and that the low, winning net interest cost bid was 3.07% from Time Bank, Park Ridge, Illinois.
Goldman said the issue was structured as a one‑year rollover with a final maturity of Dec. 15, 2026, and that closing was expected about two weeks after the meeting. "I therefore recommended the district's general obligation limited tax, Series 2025…
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