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Atchison Sets Bond Issue Date

By Joel Hardy

06/03/2014

(KAIR)--The Atchison City Commission has passed a resolution authorizing the sale of bonds totaling over $4.5 million.

City Finance Director Becky Anderson says there should be no problem obtaining the bids, as government bonds are generally considered safe and she is sure the city can obtain a reasonable interest rate because of this.

Anderson says that once the bonds are sold, they will go towards funding some needed improvements in the city. It will pay for the new aerial fire truck, the city's $1 million street improvement project, and the Conference Center. Anderson says the city already has debt on the Conference Center, but it is temporary debt which will be paid off by this larger bond issue.

Anderson adds that issuing multiple bonds for these projects was a possibility, but ultimately, issuing one larger bond was deemed the best course of action. The reason they are doing one larger bond issue is that they will be saving on issuance costs by putting everything into one larger bond.

Anderson says bids for the bonds have already been sent out, and all interested parties have until 2:30 on the afternoon of June 16th to submit their bids. The Commission will then accept the lowest bid later that night during their regular meeting.

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