Laserfiche WebLink
Competitive Sale Results <br /> PURPOSE: For the purpose of financing the City's proportionate share of the <br /> costs of constructing a new fire station in the City. <br /> RATING: S&P Global Ratings AAA <br /> NUMBER OF BIDS: 5 <br /> LOW BIDDER: Baird, Milwaukee, Wisconsin <br /> COMPARISON FROM LOWEST TO HIGHEST BID: <br /> (TIC as bid) <br /> LOW BID:* 3.7111% <br /> HIGH BID: 3.9380% <br /> Summary of Sale Results: <br /> Principal Amount*: $2,895,000 <br /> Underwriter's Discount: $29,530 <br /> Reoffering Premium: $171,872 <br /> True Interest Cost: 3.7139% <br /> Capitalized Interest: $91,197 <br /> Costs of Issuance: $59,840 <br /> Yield: 3.04%-3.80% <br /> Total Net P&I $3,997,100 <br /> NOTES: Subsequent to bid opening, the issue size was decreased by <br /> $185,000 to $2,895,000 due to receipt of a premium bid <br /> and unused COI and underwriters discount. <br /> CLOSING DATE: May 20, 2025 <br /> CITY COUNCIL Adopt a resolution awarding the sale of $2,895,000 General <br /> ACTION: Obligation Capital Improvement Plan Bonds, Series 2025A. <br /> SUPPLEMENTARY ATTACHMENTS <br /> • Bid Tabulation <br /> • Sources and Uses of Funds & Updated Debt Service Schedules <br /> • Rating Report (provided by S & P to City via email) <br /> Sale Day Report for City of Arden Hills, Minnesota 1 <br />