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.
Citizen Staff Reports 07/18/2016
Good Vibrations choral group is looking for all voices with some musical experience to sing with the volunteer choir. The season runs from August to November. Genre includes patriotic and inspirational. > Read more.
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.
Pelon’s serves up a good mix of variety, value
I first stumbled into Pelon's on a Wednesday night, lured by the promise of $2 tacos and beers. At those prices, I had assumed the place was a hole in the wall, and was pleasantly surprised by the spacious, pleasant interior.
Having spent my teen summers in Virginia Beach surfing, I also felt instantly at home amid the ocean-themed decor. From the ride-the-waves posters lining the walls and the TV displaying non-stop surfing footage, to the foosball table and enormous spools serving as tables, Pelon's is a delight for beach lovers and surfing fans. Reading the menu is part of the entertainment here, as patrons browse burrito choices that include Rip Tide, The Curl, Hawaiian Pipeline and Big Kahuna. > Read more.
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Jul. 21, 2016Click here to read the print edition.
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CalendarJames River Cellars Winery, 11008 Washington Hwy. in Glen Allen, will host Paws on the Patio from 6:30 p.m. to 9:30 p.m. There will be live music and food trucks.… Full text