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City finance team praised after bond sale; council set to consider multiple contracts
Summary
A financial adviser told council the city sold two bond issues at a 4.42% rate and retained a triple-A rating; staff also previewed several contracts and purchases on the full council agenda, including drainage-engineering contracts totaling over $1 million and multiple smaller procurement items.
A representative from the Frazier Lanier Company briefed council on two bond issues sold for the city and staff previewed several procurement and contract items slated for the full council agenda.
John Mazey said the bonds were sold April 7–8 and the city achieved a 4.42% rate on the sale, about 30 basis points better than earlier estimates. "We sold at 4.42. So that's a 30 basis point differential," Mazey…
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