Clear Lake council to consider agreement with bond services underwriter firm

CLEAR LAKE — The Clear Lake City Council tonight will consider a proposal for a bond services underwriter agreement with a Dubuque company to provide services in anticipation of new bond issuances.

City Administrator Scott Flory in a memo to the council says under the proposal, Northland Securities would provide advice and services related to the future competitive sale of bonds and/or notes, especially general obligation bonds.

Flory says it’s expected that Northland Securities would work closely with the city’s internal staff, outside bond counsel, as well as make recommendations and perform activities related to the issuance and sale of debt. Northland Securities would also assist the city in securing a credit rating with a rating agency.

The council will consider entering into the agreement with Northland Securities at their meeting tonight at 6 o’clock at City Hall.