Town Earns Lowest Bond Interest Rate Yet
Vienna keeps AAA ratings as it sells $6.45 million in public improvement bonds Tuesday, but 'negative outlook' from credit rating agencies remains
The Vienna Town Council set a new record Tuesday, selling $6.45 million in 2012 Public Improvement Bonds at a rate of 1.71 percent -- a third less than the record rate it earned two years before. Before this week, the lowest interest rate Vienna had seen on its public improvement bonds was 2.49 percent, earned on the 2010 bond issue. "By having such a low interest rate, the Town will see substantial savings over the life of the bond, ultimately saving taxpayer money," Public Information Officer Kirstyn Barr said in a statement. The town goes out for bonds about every four years to fund major public improvements. It repays the debt service using revenues from the town's 3-percent meals tax. Standard & Poor's and Moody's Investor Service re-…
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Collin Ginsburg
2:13 pm on Sunday, May 13, 2012
300k is plenty for a 10,000 sq.ft. skatepark. I think Vienna should take a tip from the many, other skatepark projects in California and elsewhere. Take this one as an example: http://pillardesignstudios.com/skatepark-experience/nicholl-skatepark-richmond-ca/ more ›