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.
The theme for the annual Dominion GardenFest of Lights at Lewis Ginter Botanical Garden in Lakeside has been announced.
This year's event, which opens Nov. 25 and will continue through Jan. 9, will explore "Living Color" and show how the world's kaleidoscope of colors speaks to people, impacts nature and influences culture, according to Garden officials. The event features more than a half million lights, botanical decorations, trains, holiday dinners, family activities and more. > Read more.
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Oct. 20, 2016Click here to read the print edition.
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CalendarCAT Theatre, located at 319 N. Wilkinson Rd., will present “I’ll Be Back Before Midnight” Oct. 14-29. This classic thriller will leave the audience guessing until the final scene. Evening performances start at 8 p.m. Matinees begin at 2:30 p.m. For tickets, visit http://www.cattheatre.com. Full text