County receives competitive bids on bond sale

Jay Schneider, Life/Enterprise

LE CENTER - Le Sueur County received outstanding bids on their $12.635 million general obligation capital improvement bond sale.

A total of eight bidders attempted to purchase the funds which will be used to fund the remaining non-jail portions of the County's Justice Center and the second phase of remodeling to the current courthouse in Le Center.

The Justice Center will use $9,720,000 of the money and the Phase II Courthouse Remodel will use the remaining $2,915,000.

According to Bruce Kimmel, Senior Municipal Advisor for the financial firm of Ehlers, Inc., the bids were very close and competitive.

The low bid received and accepted by the Le Sueur County Board Tuesday, Jan. 15, was from Piper Jaffray of Minneapolis. The bid was 3.1290 percent.

The highest bid received was 3.2494 percent from J.P. Morgan Securities, LLC of New York, NY.

Three bidders were from New York, one from Wisconsin, Missouri, and Tennessee, and two from Minnesota. Northland Securities, Inc. came in with a bid of 3.1901 percent.

Le Sueur County received an outstanding "AA" rating by S & P Global Ratings.

In other Le Sueur County Board business:

* The commissioners approved the Counseling Services of Southern Minnesota contract, the Paul Dietzman contract, and a Great Minnesota contract which were all presented by Human Services Director Sue Rynda.

* A total of 12 county employees were.....

To see more on this story pick up a print edition of the January 17, 2019 of the Times, Messenger, Life or Enterprise.


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