City of Lino Lakes City Council Agenda April 2026
Underwriter Selected For 2026A General Obligation Bonds
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Description
Lino Lakes awarded the sale of its $8,355,000 General Obligation Bonds, Series 2026A, to Brownstone Investment Group, LLC at a purchase price of approximately $9.23 million. The bonds will finance the Otter Lake Road extension, associated public improvements, and utility system upgrades through 2042 maturities.
Contract Details
Contract Amount
$8,355,000 (par amount of bonds); $9,225,379.70 purchase price
Vendor
BROWNSTONE INVESTMENT GROUP LLC
Agency
City of Lino Lakes, MN
Contract Type
FINANCIAL_SERVICES
Document Date
April 27, 2026
Contract Term
Bonds dated on or about May 18, 2026, maturing serially February 1, 2028 through February 1, 2042
Renewal Date
2042-02-01
Renewal Info
Bond resolution sets maturities from 2028 to 2042 with optional redemption beginning February 1, 2036 for bonds maturing on or after February 1, 2037.
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