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Council debates bonding versus paying cash for Lake Alice and other small projects
Summary
Council members questioned whether to issue a GOPRI bank bond or use city cash reserves for the Lake Alice project, citing $33,000 in bank-bond legal fees already incurred and uncertain interest-rate futures; staff and council discussed trade-offs in levy impact and timing.
Council members on Aug. 4 debated whether Fergus Falls should proceed with bank-issued GOPRI bonds for small projects including Lake Alice or instead finance with city cash reserves.
One council member said he had "analyzed this bond many ways" and urged caution, noting the city had already incurred bond-related legal and issuance fees he estimated at about…
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