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.
Henrico County Recreation and Parks will present “Red, White, and Lights” at Meadow Farm Museum/Crump Park July 4.
Henrico County has hosted a Fourth of July celebration annually since 1981, but this year’s event will offer a later start time and expanded hours and be highlighted by new entertainment.
The free event will begin at 4:30 p.m. and will feature the Richmond Symphony, a laser-light show, patriotic performances, and family activities. > Read more.
The Tuckahoe Family YMCA and ReEstablish Richmond will host the third-annual Refugee Community Resource Fair Saturday, June 18, from 10 a.m. to noon at the YMCA, 9211 Patterson Avenue in Henrico. The event is designed to provide refugees in the region information about jobs, local businesses, housing, health care, education and more.
As part of its strategic plan, the YMCA of Greater Richmond works to identify, address and eliminate economic, geographic and cultural barriers. > Read more.
For our Top 10 calendar events this weekend, click here! > Read more.
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Jun. 16, 2016Click here to read the print edition.
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CalendarA community blood drive, in memory of Leslie DiPasqua Goldman who died in February from Acute Myeloid Leukemia, will take place from 1 p.m. to 7 p.m. at 11254 Patterson… Full text