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Council approves bond sale to lock in rates for library and Hively Street work
Summary
Council approved a bond‑purchase resolution to lock market interest rates for voter‑approved library improvements and Hively Street Phase 2; local banks participated and the average interest came in near 3.517%.
Council approved a resolution to finalize the sale of general‑obligation corporate‑purpose bonds, Series 2026A, to fund voter‑approved library improvements and Hively Street Phase 2. Staff reported bids returned with an average interest cost near 3.517% — lower than earlier expectations — in part because local purchasers (Decorah Bank & Trust and CUSB) participated in the sale. Council authorized staff to lock the rates and proceed with final bond‑sale actions.
