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New Prague EDA approves presale resolution to pursue $10.13 million lease revenue bond
Summary
The New Prague Economic Development Authority voted to move forward with a presale for an EDA lease revenue bond Series 2025C totaling $10,130,000, approving a 30-year structure with a call feature at year nine to allow future refinancing if interest rates fall.
The New Prague Economic Development Authority voted to move forward with a presale resolution seeking a $10,130,000 lease revenue bond to finance an unspecified facility lease arrangement between the EDA and the city.
Chair (speaker 1) opened discussion and referred the presale report to Keith (speaker 2), who summarized the proposed Series 2025C issue and its terms. Keith said the bond would be issued for a 30-year term with a built-in call feature in year nine to permit refinancing of maturities past year nine if the EDA can secure lower interest rates in the…
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