The bonds were placed with the State Treasurer, saving the city more than $900,000.
June 24, 2013
Mayor Richard J. Berry has signed bonds which will provide $6 million of funds for critical city projects, originally approved by voters in 2011 at an interest rate of .24%. The bonds were placed with the State Treasurer, saving the city more than $900,000. In addition, the Mayor signed $11 million of bonds which will lower interest rates on bonds issued by the city in 2005 from 4.25% to .35%, saving over $365,000.
"This is the result of responsible fiscal management and proactive debt management," said Mayor Berry. "It is critical that we as government are always working towards efficiency measures and protecting the taxpayer’s investments in our city."