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Willmar awards $8.305M bond sale to fund broadband after strong market demand; Moody's affirms Aa3
Summary
The council approved awarding $8.305 million in general obligation tax-abatement bonds to finance the Wilmar broadband project; municipal advisor Baker Tilly reported a competitive sale with a 3.934% yield and Moody's assigned an Aa3 rating to the issue.
The Willmar City Council voted to award the $8,305,000 general obligation tax-abatement bonds to the low bidder after municipal advisor Jake Emiat of Baker Tilly described a competitive sale and a favorable result.
Emiat told the council the bonds will fund acquisition, construction and installation of broadband infrastructure, capitalized interest…
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