Edmonds sells Civic Park bonds at favorable rate
Interest cost to City lower than expected
Last updated 11/7/2019 at 11:18am
On the heels of the recent Standard & Poor's award of its highest, "AAA" credit rating to the City of Edmonds, City Finance Director Scott James said sale of bonds for the development of Civic Park exceeded expectations, with a favorably low interest cost offered by the winning firm, Raymond James & Associates.
Seven firms submitted bids, with Raymond James coming out on top by submitting the lowest True Interest Cost offer of 2.188672%.
This low bid coincided with another key piece of news – the Federal Reserve's decision to cut its bench mark interest rate by 25 basis points (.2...