(Spirit Lake)– The Dickinson county board of supervisors Tuesday awarded the sale of the remaining 4.9 million dollars in general obligation bonds for the courthouse project.
The bonds were awarded to United Missouri Bank of Kansas City and Northwest Federal Savings and Loan.
The supervisors last month awarded the sale of the other 10 million dollars in bonds for the project. That sale also came in with a lower-than-expected interest rate.
Tim Oswald, a financial consultant with U-S Bancorp Piper Jaffray, says the combined rate of about four percent for the two issues came in a half percent lower than what had been originally projected. He says it will save the county about 800-thousand dollars in interest costs over the 19-year payback of the bond issues.
Interest rates also came in lower than expected on the 10.9 million dollar issue that was awarded last month.
The 14.9 million dollar issue was split to give local financial institutions an opportunity to participate.
