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Council approves bond and temporary note actions after favorable bids; staff to execute sale documents
Summary
After staff reported competitive bids that were lower than preliminary estimates, the council approved award motions and related resolutions/ordinances to move forward with temporary note and bond financings; staff will execute bid forms and proceed with the sale and delivery.
Staff reported the city took bids the morning of May 5 and received a single winning temporary note bid from Robert W. Baird at 3.49% (estimated $552,000 reduction in debt service versus prior 4.5% estimates) and a winning long‑term bond bid from Baker Group at 3.66% (about $744,000 reduction versus a 5%…
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