Henrico completes $73.5M bond sale
Henrico County officials yesterday completed a sale of $73.5 million in general obligation bonds to Barclays Capital, the successful bidder from a group of eight.
The bid for the 20-year bonds was made at an interest rate of 2.84 percent, according to Henrico Management and Budget Division Director Gene Walter.
"That's amazing," Walter told the Citizen. "Given the craziness of the stock market yesterday [a drop of more than 400 points], it just goes to show how high quality Henrico County bonds are."
The highest interest rate offered by a bidder yesterday was 3.08 percent – just one one-hundredth of a point higher than the rate Henrico received when it last sold bonds last year.
"And we thought that was an incredible rate at the time," Walter said.
Because the county budgets for an interest rate on bond sales of 6 percent, yesterday's sale resulted in a cost avoidance of $24.7 million, Walter said.
The bond money will fund school renovation projects, the construction of a new Dumbarton Library and a new Varina Library as well as two recreation and parks projects.
On June 13, the Short Pump Rotary Club partnered with Schnabel Engineering for a day of volunteer work with Rebuilding Together Richmond. Team members (among them [from left] Chris Rufe, Melissa Abraham, Rick Naschold, and Micky Ogburn) completed a variety of repairs and home improvements ranging from painting and landscaping to cabinet installation and fence building.
“It was a privilege to be involved in this project," said club president Melissa Abraham. "The homeowner kept thanking the volunteers, but I think all of us would agree we are the ones who actually benefited. It was an opportunity to help a community member, fellowship with great people and improve our handyman skills." > Read more.
Dr. Even Alexander, a New York Times best-selling author who has been featured on Oprah and Dr. Oz, was in town last week to promote his June 27 talk, "Proof of Heaven," at Glen Allen High School.
Alexander (pictured, at right, while Unity of Bon Air church member Harry Simmons interviews him) has written about what he considers to be his journey through the afterlife.
Tickets to this month's event are $25 and will support the new Bon Secours Hospice House being built later this year. > Read more.
For our Top 10 calendar events this weekend, click here! > Read more.
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Jul. 2, 2015Click here to read the print edition.
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CalendarThe Henrico Theatre Company will present “Come Blow Your Horn” July 10-26 at The Cultural Arts Center at Glen Allen. Evening performances begin at 8 p.m. while matinees start at… Full text