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East Grand Forks staff propose $12.54 million bond authorization for recreation projects
Summary
City staff said they will present a resolution to authorize sale of up to $12.54 million in bonds to fund recreation facility improvements, with premiuming bringing available sale to about $13.03 million; $8 million is earmarked for the VFW arena and $4.745 million for civic center work, while a previously mentioned $2 million for ballfields is not included because the ballfield project is not ready to bond.
City staff told the East Grand Forks City Council they will bring a resolution next week to authorize the sale of bonds to fund recreation facility improvements, proposing a principal amount of $12,540,000 and with bond premium items bringing the total available sale to about $13,032,275.
Scope and allocation: staff said the largest component is $8…
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