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East Grand Forks Council approves $12.54 million sales-tax bonds for civic center and VFW arena work
Summary
The East Grand Forks City Council on Jan. 20 approved Resolution 26-01-15 authorizing roughly $12.54 million in sales-tax-backed bonds (Series 2026A) to finance remodeling of the civic center and reconstruction of the VFW Memorial Arena; the issuance will be repaid with sales tax revenues over 20 years and go through a Moody’s rating process.
The East Grand Forks City Council voted Jan. 20 to adopt Resolution 26-01-15, authorizing the issuance and sale of approximately $12,540,000 in general obligation sales-tax revenue bonds, Series 2026A, to fund remodeling of the civic center and reconstruction of the VFW Memorial Arena.
City Administrator Reeve Hutton introduced Chris Hogan of Baker Tilly Financial Advisors, the city’s municipal…
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