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.
Reynolds Community College will host Richmond sculptor Paul DiPasquale Sept. 28 as he shares his presentation “Art Talk, Why Art Matters” from 6 p.m. to 8 p.m. in the Conference Center Gallery of the Workforce Development and Conference Center on the Parham Road Campus, located at 1651 E. Parham Road in Richmond. This event is free and open to the public. > Read more.
The Children's Clothing Closet at Highland Springs United Methodist Church will be open Saturday, Aug. 27 and Tuesday, Aug. 30 to provide free new or nearly new children's clothing for families in need, prior to the start of the school year. The Clothing Closet will be open from 10 a.m. to noon both days. The church is located at 22 North Holly Avenue. > Read more.
Beautiful fall weather is back this weekend! Don’t leave your favorite pooch at home – take the whole family to Canine Companions’ DogFest Walk ‘n Roll at West Broad Village or FETCH a Cure’s annual Mutt Strutt at Deep Run Park. Pets are also welcome at this weekend’s Central Virginia Celtic Festival and Highland Games. Halloween events taking place Sunday include the University of Richmond’s 18th annual Trick or Treat Street and Goblins and Gourds at Lewis Ginter Botanical Garden. For all our top picks this weekend, click here! > Read more.
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Oct. 20, 2016Click here to read the print edition.
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CalendarThe Virginia Hemophilia Foundation will host the VHF Trick or Trot 5K and Fun Walk will start at 9 a.m. at Robious Landing Park. There will be a 5K course, a quick one mile route and the Monster Dash, a 100-yard fun run for kids 12 and under. Funds raised will go toward fulfilling VHF's mission of supporting the needs of those impacted by a bleeding disorder through education, advocacy, and community. The race is limited to 200 runners. For details, visit http://tinyurl.com/VHFtrickortrot. Full text