Refinancing of Federated bonds moves forward
By Reed Anfinson
Swift County Monitor-News
Swift County Commission Chair Joe Fox and Administrator Kelsey Baker were authorized to lock in the interest rate for the refinancing of the 2016 tax abatement bonds sold for Federated Telephone’s broadband project.
At last Tuesday’s meeting, the “parameter resolution” was presented to the county board. It is called a parameter resolution because it gives Fox and Baker some leeway on when to sign the agreement.
There are a few restrictions, however, George Eilertson of Northland Securities of Minneapolis told commissioners. To lock in the interest rate, the principal amount of the bonds can’t exceed $6.15 million, he said. It also says that the savings on the refinancing county must be at least a net 3%...
For more on this story, and to keep up on all the latest in area sports, subscribe to the Swift County Monitor-News print edition or our PDF internet edition. Call 320-843-4111 and you can get all the local news and sports delivered to you!