Bank Wins Bond Bid

Wed., Feb. 18, 1998

From Staff Reports

The City Council awarded bonds for the construction of a new library to Zion’s Bank on Tuesday.

The city received five bids from financial institutions offering interest costs of up to 4.63 percent. Zion’s Bank offered the lowest rate at 4.50 percent.

Library director Joe Reiss happily said the bids were lower than he expected.

Voters approved a $2 million levy in November to construct a new library. The levy will increase taxes on a $100,000 home by $21.88 for the next 15 years.

Construction should begin in late summer or early fall, Reiss said.

The other institutions making bids were Prudential Securities, which bid a rate of 4.59 percent; Solomon Smith Barney, which bid a rate of 4.63 percent; D. A. Davidson, which bid a rate of 4.56 percent; and First Security Bank, which bid a rate of 4.57 percent. , DataTimes

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Bank Wins Bond Bid

Jesse Tinsley

Jim Meehan

Molly Quinn

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