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Commission OKs $122M in bonds, $18M water bond authorization and accepts $5M state grant
Summary
Commission committees approved a $122.27 million bond sale for stadium and amphitheater projects, authorized up to $18 million in junior‑lien water bonds for lead‑line and water main work, and accepted a $5 million state grant for Plaza Roosevelt and Roosevelt Park.
At committee meetings on June 10, Grand Rapids commissioners approved several high‑value finance actions covering capital projects and park improvements.
Bond sale: Staff presented a report of sale for $122,270,000 in Series 2025 capital improvement bonds to fund the Amway Soccer Stadium and amphitheater projects. Officials said the true interest cost was just below 4.7% with an average coupon near 5%. The bonds are secured by…
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