by Dennis Dalman
editor@thenewsleaders.com
The Sartell City Council at its July 11 meeting authorized the sale of bonds that will pay for the lion’s share of the Sartell Community Center in the south part of the city.
Stacie Kvilvang of Ehlers & Associates outlined the bond sale at the council meeting. She said she was happy to inform the council the City of Sartell has a topnotch double-A bond rating because of its strong management of finances, its good budget policies, its strong liquidity and its timely handling of debt issues. And that superb bond rating helped make possible the relatively low interest rate on the $9.95-million bond amount – an interest rate of 2.07 percent.
Piper Jaffray of Minneapolis was the lowest of six bidders for the bond issue. The vote to authorize the bond sale was 3-1, with council member Amy Braig-Lindstrom voting against it. Member David Peterson was not present at the meeting. Voting for the bond were Mayor Sarah Jane Nicoll and council members Steve Hennes and Pat Lynch.