Woodbury City Council approves bonding

Woodbury City Council members approved the issuance of more than $8 million in bonds on Wednesday, May 23.

The four bond packages, totaling $8.3 million will go toward the 2012 street improvement project.

A representative from Ehlers Investment Partners said the city received a low interest rate of 1.58 percent due to the city’s AAA credit rating.

“Standard and Poors really has nothing but good things to say about you,” Ehlers financial adviser Mark Ruff told the council.

The bonds will be paid back through special assessments levied against benefitting properties.

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