bshea@messengernews.net
When Fort Dodge city officials went to the bond market on Monday to borrow the money to pay for some upcoming projects, they received some remarkable interest rates.
A bond issue that will total up to $9.3 million has an interest rate of less than 1 percent.
Another bond issue totaling up to $8.5 million has an interest rate of 1.88 percent.
The council approved both bond issues unanimously Monday evening.
The debt will be paid off with a combination of property tax revenue and money from tax increment financing.
The $9.3 million will be borrowed from a group of financial firms led by Robert W. Baird & Co. Inc., of Milwaukee, Wisconsin.