County board approves bond sale, Le Sueur tax abatement proposal

Jake Keohen, Montgomery Messenger

The Le Sueur County Board of Commissioners approved the sale of two separate bonds at very favorable interest rates and passed a resolution approving a City of Le Sueur tax abatement proposal at its regular meeting held Tuesday, Nov. 14 at the courthouse in Le Center.

Bruce Kimmel, client representative with Springsted Inc. financial consultants of St. Paul, presented the bids for board approval:

$2,555,000 General Obligation Capital Improvement Bonds, Series 2006A, for highway department road improvements, interest rate 3.96% awarded to Stifel, Nicolaus & Co., Inc. There were five other bidders;

$550,000 General Obligation Wastewater Loan Program Bonds, Series 2006B, for septic upgrades and improvements, interest rate 3.73% awarded to Wells Fargo Brokerage Services, LLC. There were four other bidders.

We are thrilled with these excellent rates for Le Sueur County