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Southeast Polk board approves $51 million bond sale; Piper Sandler wins at 3.978% TIC
Summary
Financial advisor PFM reported eight bids for a $51 million general obligation bond offering; Piper Sandler submitted the winning bid at a true interest cost of 3.978%, leaving approximately $52.59 million for district projects after premiums and reduced underwriter discounts.
The Southeast Polk Community School District board approved the recommended winning bid for a competitive sale of about $51 million in general obligation bonds at its April 9 meeting.
Suzanne Gerlach of PFM told the board that the sale drew eight bids and that the district's true interest cost (TIC) across bids ranged roughly from…
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