On Monday, April 22, Richardson residents will have the opportunity to purchase City of Richardson municipal bonds that will be sold on the open market to raise approximately $88 million as issuance of General Obligation and Certificate of Obligation bonds. The bonds will be sold in $5,000 increments and will raise money for city facilities, infrastructure improvements, and to replace equipment.
Municipal bonds pay interest to bond holders, which is exempt from federal income taxes. Those interested in purchasing Richardson bonds must do so through a brokerage firm.
Earlier this week, the City announced receiving “Triple A” bond ratings status from Moody’s and Standard & Poor’s (see article above), which will enable the City to sell the bonds at lower interest rates, due to the City’s financial strength.
Richardson Bond Purchase Information: Bonds Available to Residents | News | Richardson, TX (cor.net)
