City sells bonds for infrastructure projects

The Pipestone City Council during its Aug. 3 meeting approved the sale of ,965,000 in bonds to finance the Second Avenue Southwest street and utility improvement project, repairs on Seventh Avenue Southwest, and the replacement of the fuel station and underground fuel tanks at the Pipestone Municipal Airport. Rebecca Kurtz, senior municipal advisor with Ehlers, the city’s financial advisor, said eight bids were received. The low bid came from Baird and has an interest rate of 3.79%. The bonds will mature in 2042, but could be paid off in 2036 without penalty. Kurtz said the city would have the funds... Article Link