This week the City Council received final pricing for the sale of $43.8 million of General Obligation (G.O.) bonds and $49 million of two series of Certificates of Obligation (C.O.s) and passed three ordinances at Monday’s City Council meeting allowing the issuance of each. The bonds and C.O.s have favorable interest rates (3.677 percent for the G.O. bonds; 3.475 percent and 5.036 percent for the C.O.s), a benefit of the City’s recent “Triple A” reaccreditation from both Moody’s and Standard & Poor’s credit rating agencies.
The sale will provide about $101.5 million in funds for “Year Two” projects approved by voters in the 2021 Bond Program as well as for the City’s Capital Improvement Plan, vehicles, and equipment.
