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Stearns County gets favorable bond pricing for Justice Center; sale reduces borrowing and long‑term debt cost
Summary
The county sold bonds for the Justice Center to Bank of America Securities at a low bid near 4.18%; due to the sale premium and improved pricing the county reduced the principal amount by about $3.7 million and expects roughly $24.5 million less in principal‑and‑interest over the life of the debt compared with earlier estimates.
Stearns County officials reported a successful bond sale on April 20 for the Justice Center project and the board accepted the sale at its April 21 meeting.
Finance director Sarah Uch said the county recently completed an S&P rating review and maintained a AA+ rating, which, combined with strong market interest, produced favorable…
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