Council approves sale of bonds

By Patrick Fisher, Staff Writer

The New Prague City Council approved the issuance and sale of $1.3 million in General Obligation Bonds at its meeting Monday, June 20.

The bonds will finance the city's 2011 street and utility reconstruction projects. It will also finance the purchase of golf equipment by the New Prague Golf Board.

City Administrator Mike Johnson and Terri Heaton, financial advisor with Springsted, Inc., the city's financial advisor, presented the information to the council.

The majority of the bonds will go toward the street work along Central Avenue N, First Avenue NW, Fourth Street NE, Fourth Street NW, Fifth Street NW, the new bus road on the east side of New Prague Middle School and the new sidewalks along Columbus Avenue N, Fourth Street NE and First Avenue NW. An estimated $105,000 will be for the golf equipment.

We're hitting the bond cycle at a good time