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County sells $9.6 million in bonds
The Le Sueur County Board authorized the sale of $9.6 million in general obligation bonds at a “very favorable” interest rate of1.589 percent, at the meeting held Tuesday, Jan. 27.
The meeting was held at the 4-H Family Center at the Le Sueur County Fairgrounds in Le Center, since a larger than normal crowd was expected because of information being provided concerning three county ditch systems.
Todd Hagen, senior financial advisor with the Ehlers firm that guides the county on financial matters, presented the bond bidding results.
“This was a very big day of bidding, with 12 firms submitting their offers,” said Hagen.
The low bid came from FTN Financial Capital Markets of Memphis, TN. “This was a very good bid, almost a record low that we have seen, since we had anticipated a rate of about 2.2 percent,”added Hagen.
The high bid of the 12 submitted was 2.082 percent.
The difference in dollars between the high bid and the low rate accepted by the county is...
To see more on this story pick up the January 29, 2015 print edition of The New Prague Times and the Montgomery Messenger.