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Council approves $7.27 million promissory note sale, cites lower-than-estimated rate and premium
Summary
The Greenfield Common Council authorized the sale of a $7,270,000 general obligation promissory note; municipal advisor Paul Behning said nine bids produced a 3.23% low rate, generating an estimated $220,000 in interest savings and about $127,000 in additional project funds.
The Greenfield Common Council on March 17 approved the issuance and award of a $7,270,000 general obligation promissory note, series 2026A, the council heard.
Paul Behning of Ehlers told the council the sale drew nine bids and produced a low interest rate of 3.23%, well below the presale estimate of 3.86%. "With…
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