B.E. Council Approves Bond Sale at Monday Night’s Meeting

The Blue Earth City Council approved two resolutions Monday night authorizing the sale of up to $11.5 million in general obligation bonds.

The larger issue allows the city to sell up to $9.5 million in Series 2026A bonds to finance various public improvements and refinance certain existing city debt.

The council also authorized up to $2 million in Series 2026B refunding bonds to refinance a February 2027 maturity on outstanding city bonds.

Baker Tilly Municipal Advisors will solicit proposals, with D.A. Davidson and Company identified for the bond purchase agreements.  The Series 2026A sale requires a true interest cost below 5.5%, while the Series 2026B bonds must be below 5%.

Both authorizations expire December 31^st if sales are not completed.