(Audubon) The Audubon County Supervisors approved a bond sale resolution at their meeting this week.
The bid is for $5 Million General Obligation Urban Renewal County Purpose Funds. Susanne Gerlach, with PFM, reported to the Supervisors that the county received an A+ rating from Standard and Poor’s. “Our goal with the competitive bid is to get at least three bids and today we got eight. So that’s tremendous. That’s amazing.”
Gerlach says a couple of factors played into the good outcome for the County. One of the main ones was timing with just a few weeks remaining in the calendar year. “I had a very conservative estimate of 3% for planning purposes and your TIF cash flow and we got 1.799% today.” Gerlach says, “Rates are very favorable.”
Bond proceeds will come on December 22nd. The approval comes with a call date of June 1st, 2029 to be refinanced.
