Johnson County PBC approves $5.935 million lease-purchase bonds; TD Financial Products wins bid
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Summary
The Public Building Commission of Johnson County adopted Resolution PBC-003-25 to issue $5,935,000 in lease-purchase revenue bonds, sold to TD Financial Products LLC at an interest rate of 3.66%.
The Public Building Commission of Johnson County adopted Resolution PBC-003-25 authorizing the issuance of lease-purchase revenue bonds in the aggregate principal amount of $5,935,000.
Leslie Friedel, budget financial planning, said the issue was resized after the sale produced a $500,000 premium and that the winning bidder was TD Financial Products LLC at a 3.66% interest rate. Friedel said there were two bidders for the sale, fewer than the dozen or so that typically respond to larger bond issues.
Commissioner Hanslick moved to adopt the resolution; Commissioner Allen Brand seconded the motion. The clerk called the roll: Commissioner Fast — aye; Commissioner Myers — aye; Commissioner Brewer — aye; Commissioner Hanslick — aye; Commissioner Ashcraft — yes; Commissioner Allen Brand — aye; Chairman Kelly — aye. The motion passed with seven votes in favor and none against.
Elizabeth Bergman of municipal advisory firm Baker Tilly attended the meeting as the commission's municipal advisor, and staff noted county counsel Kevin Wimpie and Chanel Perez were present. No other questions or amendments were offered before the vote.
The commission then moved on to a separate bond authorization item.