Favorable bids on a bond issue of nearly $5 million will save the City of Kiel $157,000 in debt service costs.

Originally forecast at $4.93 million, the public works bond issue came in at a final number of $4.79 million. Joe Murray, on behalf of the city’s financial consultant, Ehlers, said the original estimate of $4.93 million for the bonding was pared down to $4.915 million, then went even lower on the day of the bond sale.
A total of four bidders took part in the sale, with Bankers’ Bank of Madison earning the find bond issue. The true interest cost for the bond was calculated at 1.76 percent, compared to an anticipate rate of 2.3 percent.

(Please see the February 6  issue of the Tri-County News for more on this story.)

Subscribe to the E-Edition of the Tri-County News

Or, just give us a call at 920-894-2828