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EDA hears police‑station funding options as bond rates rise; city council decision window may be short
Summary
Staff told the EDA that the city council asked for analysis of two police‑station funding routes—a CIP bond referendum or an EDA lease‑revenue bond—and warned that a decision to send a referendum to the ballot may be required within roughly 30 days because of county deadlines; staff noted recent bond yields rose to about 5.1%.
City staff briefed the New Prague Economic Development Authority on two primary options to fund a proposed police‑station project: a capital improvement project (CIP) bond that would go to voters via referendum or an EDA lease‑revenue bond in which the EDA would issue bonds, own the building and lease it to the city until the bonds are retired.
The director said the city council asked staff to analyze costs, timelines and other implications. He told the EDA the city…
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