Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bond Sale topic
No spam. Unsubscribe anytime.
Council approves $13.035 million general-obligation bond sale to finance fire station, utilities and improvements
Summary
City advisers presented the sale of $13,035,000 in general-obligation bonds (series 2026A) at a true interest cost of 4.0259; council awarded the bonds to Robert W. Baird and adopted the resolution authorizing execution and delivery.
Chris Hogan, director at municipal adviser Baker Tilly, presented the results of the city’s bond sale, saying the city sold $13,035,000 of general-obligation bonds series 2026A. Hogan said proceeds will fund remodeling and expansion of Fire Station 1, assessable public improvements, water/sanitary sewer and storm sewer utility projects, and pay issuance costs. “The winning bidder result today was 4.0259,” Hogan told the council and noted Robert W. Baird was the winning bidder.
Hogan summarized pricing and bidders, and said S&P assigned the issue a AA‑ minus rating while citing healthy fund balances and conservative management practices. Finance director Connie Hillman added staff will receive the detailed post‑sale schedules and that the city still has capacity to issue other debt if needed.
Council considered the resolution to award the sale and to fix form and direct execution and delivery; the resolution passed by roll-call vote (recorded yes votes included Chesak, Stunich, Jaeger, Ericsson, Bevans, O'Day; Johnson recorded a No on the adoption vote according to the roll call). The council also adopted the accompanying resolution authorizing signature and delivery documents.
