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.


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Eight’s enough? Crowded race for 56th District develops


Following the retirement of Delegate Peter Farrell [R-56th District], a number of candidates have thrown their hats into the ring to vie for the open seat in the Virginia General Assembly district, which contains a portion of Henrico’s Far West End.

Democratic challengers include Lizzie Basch and Melissa Dart, while Republican contenders include George Goodwin, Matt Pinsker, Graven Craig, Surya Dhakar, Jay Prendergrast and John McGuire. In addition to a section of Henrico, the district also includes portions of Goochland and Spotsylvania County, as well as all of Louisa County. > Read more.

On the trail to Awareness


Twenty-five teams, composed of some 350 participants, gathered at Dorey Park in Varina April 8 for the Walk Like MADD 5k, to benefit Mothers Against Drunk Driving Virginia. The event raised more than $35,000, with more funds expected to come in through May 7. > Read more.

Leadership Metro Richmond honors St. Joseph’s Villa CEO


Leadership Metro Richmond honored St. Joseph's Villa CEO Kathleen Burke Barrett, a 2003 graduate of LMR, with its 2017 Ukrop Community Vision Award during its annual spring luncheon April 6.

The award honors a LMR member who demonstrates a purposeful vision, a sense of what needs to be done, clear articulation with concern and respect for others with demonstrated action and risk-taking. > Read more.

Glen Allen H.S. takes second in statewide economics competition

Glen Allen H.S. was among six top schools in the state to place in the 2017 Governor’s Challenge in Economics and Personal Finance.

Taught by Patricia Adams, the Glen Allen H.S. team was runner-up in the Economics division, in which teams faced off in a Quiz Bowl. > Read more.

Glen Allen native serves aboard Navy’s most advanced submarine


A 2007 Deep Run High School graduate and Glen Allen, Virginia native is serving in the U.S. Navy as part of a crew working aboard one of the world’s most advanced ballistic missile submarines, USS Tennessee, Gold Crew.

Petty Officer 2nd Class Michael Uhl, a machinist’s mate, serves aboard the Kings Bay-based boat, one of 14 Ohio-class ballistic missile submarines.

As a machinist's mate, Uhl is responsible for operating and maintaining the auxiliary engineering equipment aboard the submarine. > Read more.

Henrico Business Bulletin Board

April 2017
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Richmond Times-Dispatch author and photographer duo Bill Lohmann and Bob Brown will discuss their latest book “On the Back Roads Again: More People, Places and Pie from Around Virginia” from 7 p.m. to 8 p.m. at Twin Hickory Library. For details, call 501-1920 or visit http://www.henricolibrary.org. Full text

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