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City Council considers refinancing 2010 bonds

In what could be a record 23-minute meeting, the Glencoe City Council reviewed an option to refinance municipal bonds, issued in 2010, at its Monday, Oct. 17, meeting.
City Administrator Mark Larson and Finance Director Todd Trippel have reviewed options to refinance $1.505 million in taxable Build America Bonds (BABs).
BABs were issued by the federal government around 2010 in an effort to stimulate the economy, with the government paying a portion of the interest.
The city issued the bonds to pay a portion of the Glencoe City Center project.
 

Read the full story in the Oct. 19 print edition of The McLeod County Chronicle.