The Faribault County Board of Commissioners met Tuesday and approved the sale of $4 million in General Obligation Capital Improvement Bonds to Northland Securities, Inc.
The true interest rate on the bonds will range from 1.6% to 1.7% over the life of the bonds. The lower interest rate will save the County about $100,000 over the li8fe of the 20 year bond.
Board members also passed a motion to lower the flags in the county to half-staff in honor of former Vice President Walter Mondale, who died on Monday. Mondale was a former resident of Elmore.
The board also approved a resolution to enter into a cost sharing agreement with the City of Elmore for the demolition of two tax forfeited buildings.
The Commissioners also passed a resolution declaring April Child Abuse Prevention Month and a proclamation declaring April 18-24th as Crime Victim’s Rights Week.