Interest rates look favorable for the City of Decorah's bond issue for HIghway 9 sewer and water work

Bonding consultant Clifton "Chip" Schultz of D.A. Davidson & Co.--a Luther College graduate--told Decorah City Council members on Monday night that the bond market is looking good for the city;s upcoming bond issue.

Decorah will take bids on a roughly $2.1 million bond issue that will not only pay for the Highway 9 project, but will buy a fire truck and will pay off a 2008 bond issue.

Schultz tells decorahnews.com that bids will be opened either June 16th or July 7th on the bonds.  He earlier told city council members "(we're at) a good point in terms of interest rates."

The City of Decorah will mostly use property taxes to pay for the bond issue, but also will use TIF funds--but not for the residential portion of the Highway 9 utility project.