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Council adopts resolution to issue $3.48 million in general obligation bonds, opts to keep 2026 debt levy flat
Summary
The council adopted a resolution providing for the issuance and sale of General Obligation Bonds Series 2025A in the proposed amount of $3,480,000 and agreed with staff recommendation not to capitalize interest, instead using additional projected fund balance to keep the 2026 debt levy flat.
The Brainerd City Council on Sept. 15 adopted a resolution authorizing the issuance and sale of General Obligation Bonds, Series 2025A, in a proposed aggregate principal amount of $3,480,000 to fund planned 2025 construction projects.
Finance Director Connie Hillman outlined the two‑part structure: $1,480,000 of GO improvement bonds (to be repaid with levy…
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