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Today’s news update | Council opts for CIP, general obligation bonds to finance safety center

scott peterson grey.egg 8db25 Todays news update | Council opts for CIP, general obligation bonds to finance safety centerListen for news updates on-air at 6, 7, 8, Noon, 3 & 5

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by Scott Peterson

The Northfield city council has voted unanimously to finance the proposed $10.7 million new safety center through Capital Improvement (CIP) general obligation bonds. Among the benefits of that option: it provides the lowest interest rate. Several councilors expressed the importance of educating the public about the proposal for a new facility, moving forward. The option chosen by the council could be subject to a 30-day reverse referendum following a public hearing. Next, city staff will prepare for the bond issue in coordination with the project schedule. Still to be decided: the facility site and specifics of the architect’s contract. KYMN will have more on the council’s financing decision throughout the day.

Aviary northfieldretirement org Picture 12 Todays news update | Council opts for CIP, general obligation bonds to finance safety center

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