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St. Peter nets $9.12M in debt proceeds, sees lower interest; city secures state grant for 40 kW solar array
Summary
City staff reported the recently completed debt issuance for the new city hall yielded $9.12 million in net proceeds at a combined interest rate of about 4.46%, and staff said the city won a state 'Solar for Cities' grant covering 70% of a planned 40 kW array at city hall.
St. Peter, Minn. — City staff updated the council on two finance items Oct. 27: a finalized debt issuance for the new city hall project and a state grant to fund most of a municipal solar installation.
Perry, a city staff member, summarized the completed debt issuance and said net proceeds totaled about $9.12 million. "The combined interest rate of the two different debt issues was 4.46%," Perry…
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