City of Red Wing

$2,375,000 General Obligation Bonds Issued at a Historically Low Interest Rates

Wednesday, June 27 2012 12:00 AM

$2,375,000 General Obligation Bonds Issued at a Historically Low Interest Rates

 

On June 11th the City Council awarded the Sale of $2,375,000 General Obligation Bonds at a historically low interest rate of 1.59 percent to finance the following projects either in whole or in part.  The historically low interest rate reflects the City’s strong management of financial operations and excellent credit rating which has been affirmed by Moody’s Investor Services at Aa2.

 

     

GO ABATEMENT BONDS

  
 

AP Anderson Park Improvements

 

$

            67,158

 

Colvill Park Improvements

  

            25,830

 

Athletic Field Parking Improvements

  

            41,328

 

LaGrange Parking Ramp Repairs

  

            20,922

 

4th Street Parking Ramp Repairs

  

            79,762

  

Total

 

$

          235,000

      

GO CIP BONDS

   
 

Fire Station Roof Replacement

 

$

            71,794

 

Library Roof Replacement

  

          413,206

  

Total

 

$

          485,000

      

GO IMPROVEMENT BONDS

   
 

2012 Street Reconstruction Projects

  

          600,000

  

Total

 

$

          600,000

      

GO STREET RECONSTRUCTION BONDS

   
 

Cemetery Street Reconstruction

 

$

          186,207

 

TH 61/63/58 Downtown Improvements

  

            57,931

 

Old TH 19 Bridge Replacements

  

            25,862

  

Total

 

$

          270,000

      

GO EQUIPMENT CERTIFICATES

   
 

T.B. Sheldon Theatre HVAC

 

$

          408,771

 

City Hall Boiler

  

            66,425

 

Public Works Equipment

  

          182,871

 

Cemetery Equipment

  

          126,933

  

Total

 

$

          785,000

      
  

Grand Total

 

$

       2,375,000

 

Marshall Hallock
Finance Director
Email: marshall.hallock@ci.red-wing.mn.us
651.385.3602

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