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Hamilton aldermen approve $1.5 million bond sale to fund street project
Summary
The Board of Aldermen voted unanimously to sell $1,500,000 in bonds to finance a street improvement project after a presentation by D.A. Davidson representatives; the amount includes processing fees.
The Hamilton Board of Aldermen voted to sell $1,500,000 in bonds to finance a planned street project after representatives from D.A. Davidson explained sale options to the board.
D.A. Davidson representatives identified as Steve and Brock presented financing scenarios and answered board questions. Ald. Deedie Esry moved to sell bonds in the amount of $1,500,000 (the motion specifies the amount includes any processing fees); Ald. Toni Schmidt seconded the motion. The board voted in favor with the four members present indicating aye votes.
The bond proceeds are intended for the city’s street project; the board did not provide further budget-line detail in the meeting minutes. No opposition or amendment to the motion was recorded. The vote as recorded lists Cameron Fast, Robert Grant, Deedie Esry and Toni Schmidt as voting aye.
Next steps noted at the meeting include processing the sale through the city’s financial advisors and returning to the board with finalized sale documents and timeline. The board did not set a formal closing date during the meeting.
Provenance: This article is based on the D.A. Davidson presentation and subsequent motion recorded in the meeting minutes. Topic introduction appears at SEG 001; discussion and the recorded vote conclude in SEG 001.
