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Council approves awarding of two bond sales totaling roughly $30.7 million
Summary
The City Council accepted staff recommendations to award Series 2024B general obligation bonds (final size ~$27.72M; low bid UBS at ~3.76% indicated, true interest cost ~3.78%) and Series 2024C taxable housing improvement bonds (final principal ~ $3.07M; low bid Baird at ~5.1% with true interest cost ~5.015%).
Financial advisers reported the results of two bond sales the city conducted Nov. 19. Nick Anhut of Ehlers and Associates said the city’s Series 2024B issue — a tax‑exempt general obligation borrowing for CIP and sales‑tax projects — attracted 13 bids and was awarded to UBS with an indicated 30‑year rate in the mid‑3.7% range. Anhut reported a final par size of $27,720,000 for the 2024B transaction after…
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