Bond Sale/Hutchinson Maintains Rating 16 Aug 13

The Hutchinson City Council this week approved the sale of 2.2-million dollars in general obligation bonds, which the revenue will be used for city improvements.
Baird of Milwaukee, Wisconsin, was awarded the sale as the underwriter.  The money will be used to pay for improvements including construction on Jefferson Street, city parking lot improvements, and the roundabout on the south side of Hutchinson.
Nick Anhut with Ehlers and Associates, Hutchinson financial advisor, says Baird had the low bid with an interest rate of 2.64 percent over the 15-year term of the bonds.
Anhut also said the City of Hutchinson maintained its “double-A-minus” rating.