City of Virginia Committee-of-the-Whole Meeting Agenda May 2026
City issues $4.61M USDA charter bond Series 2026D
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Description
The City of Virginia approved a $4,610,000 Taxable General Obligation Charter Bond, Series 2026D, to be issued to the United States Department of Agriculture at 3.625% interest over 40 years. The bond completes the refinancing of the City’s 2023 temporary notes for the regional public safety facility.
Contract Details
Contract Amount
$4,610,000
Vendor
UNITED STATES DEPARTMENT OF AGRICULTURE
Agency
City of Virginia, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
40 years from Closing Date to Maturity Date (approx. 2026–2066)
Renewal Info
Single 40-year bond with annual payments; callable at par plus accrued interest at the City’s option; USDA may require full redemption if refinancing from private sources becomes feasible.
More from UNITED STATES DEPARTMENT OF AGRICULTURE
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