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Soldier Township accepts $11,635,000 bond bid; adopts Resolution No. 5
Summary
On June 9 the Soldier Township Board voted 2-0 to accept an $11,635,000 bond bid from Robert W. Baird & Co. (TIC 3.911397) and adopted Resolution No. 5 to authorize the sale; bond proceeds are expected to be deposited July 1.
The Soldier Township Board voted 2-0 on June 9 to accept a bid from Robert W. Baird & Co., Inc. for the sale of township bonds in the amount of $11,635,000, with a true interest cost of 3.911397. David Arteberry of Stifel Public Finance presented the bond-sale results to the board.
Jerry Glasgow, Treasurer, moved to accept the Robert W. Baird bid; Mike Mathes, Clerk, seconded the motion and it carried 2-0. At the following agenda item the board adopted Resolution No. 5 to authorize the bond sale; that motion was made by Clerk Mike Mathes, seconded by Treasurer Jerry Glasgow, and also passed 2-0.
Administrator Audree Guzman told the board that proceeds from the bond sale are expected to be deposited on July 1. Guzman also reported the township received an A+ bond rating. No other conditions or contingencies related to the sale were recorded in the minutes.
Next steps: Resolution No. 5 provides formal authorization for the sale; the board will receive deposit confirmation when funds are posted to township accounts.
