JAMESTOWN, N.D. (NewsDakota.com) – The City of Jamestown remains in good standing in ND’s Refunding Improvement Bonds of 2022, Series AF with an estimated par amount of $2.1 million.

Mike Manstrom, VP Municipal finance with Colliers in Bismarck, reports in the latest Moody’s Investor Services report, the city maintains the A1 status due to their strong operating fund reserves, moderate leverage from debt burden and pension burdens, and other factors.

The resolution would authorize the city an interest rate locked at 3.1169% for seven years. Manstrom says this rate compares well with other communities.

Manstrom says the city has always maintained lower interest rates.

The city moved to approve the purchase price of $2.1 million at an average annual net interest rate of 3.1169% to Colliers.