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New Prague EDA approves $10.04 million lease revenue bonds to finance police facility
Summary
The City of New Prague Economic Development Authority approved Resolution 25-10-8-1 to award lease revenue bonds (Series 2025C) to fund the police facility; Ehlers reported an S&P AA- rating and a true interest cost of 4.485%, allowing the award to Baird at a reduced principal of $10,040,000.
The City of New Prague Economic Development Authority voted to approve Resolution 25-10-8-1 awarding the sale of lease revenue bonds (series 2025C) to finance the city’s new police facility.
Rebecca Kurtz, a representative from municipal-finance firm Ehlers, told the board that Standard & Poor’s assigned an AA-minus rating with a stable outlook to the EDA bonds and that the sale drew a single bid from Baird with a true interest cost of 4.485%. "The bid that Baird provided had a true…
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