Chaska Economic Development Authority Agenda Packet 2026-06-15
Wells Fargo Wins Chaska EDA Bond Underwriting for $55.8M Project
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Description
Chaska EDA awarded a $55,765,000 bond issuance to Wells Fargo Bank, N.A., which will underwrite Lease Revenue Bonds, Series 2026A, to fund municipal services construction and plaza improvements over a 30-year term.
Contract Details
Contract Amount
$55,765,000 (PAR); purchase price $56,958,080.92; True Interest Cost 4.3871%
Vendor
WELLS FARGO BANK N.A.
Agency
City of Chaska, MN
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Contract Term
30 years (bonds issued July 1, 2026; anticipated final maturity c. July 1, 2056)
Renewal Date
2056-07-01
Renewal Info
One-time bond sale for Series 2026A. No automatic renewal; ongoing bond servicing subject to standard indenture agreements for the full 30-year bond term.
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