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Oakdale reports $11.06 million 2025A bond sale; city keeps Moody's Aa1 rating
Summary
At its Aug. 26 meeting, Oakdale officials reported results of the 2025A bond sale: $11,060,000 issued, a winning interest rate of 4.02%, Raymond James as the winning bidder, and retention of a Moody's Aa1 credit rating; no council action was required.
Oakdale officials reported details of the city's 2025A bond sale during the City Council meeting on Aug. 26, 2025. Finance staff said the issuance totaled $11,060,000, the winning interest rate was 4.02 percent and the bonds carry a final maturity of Feb. 1, 2053. The sale produced competitive bids and the winning bid came from Raymond James and Associates.
"We retained our double-A1 bond rating," Christina, the finance presenter, told the council, noting the credit affirmation helped produce favorable sale results. Makayla Hewitt of Baker Tilly said the city received eight bids on the sale, with a narrow spread (about 4.003 percent to 4.19 percent) and a winning offer slightly below pre-sale estimates.
The council packet identifies four projects to be funded by the issuance: the 2025 street reconstruction project; remaining funding for the public works facility (and possibly city hall); Willowbrook Park neighborhood park work; and Willowbrook Trails. Finance staff said the issuance met all council parameters set in July.
City Administrator Chris Volkers praised the competitive rate and the work of staff and advisors. "This will benefit taxpayers for 30 years," Volkers said, noting the long-term nature of the debt but the advantage of securing a strong interest rate.
No formal council action was required on the report; the bond sale results were presented for information. The funding split and additional details are available in the council packet for residents seeking the line-item breakdown of proceeds and planned uses.
