Burlington mayor says bond deal good for Vt. cityJanuary 11,2014Burlington mayor
lauds bond deal
BURLINGTON ó The mayor of Vermontís largest city says a deal to refinance a $14.6 million wastewater bond will save Burlington taxpayers millions of dollars in interest payments over the next 20 years.
And Mayor Miro Weinberger said the deal announced Thursday signals the state of Vermontís recognition of the cityís improved financial management.
Weinberger said the deal was the cityís first sale through the Vermont Municipal Bond Bank Bond general bond pool.
The bond bank provides Vermont municipalities, school districts, and fire districts with access to long-term bond financing at low interest rates.
The city said that without the bond bank, the city would have had to seek alternative funding at higher interest rates, which could have resulted in up to $4.8 million in additional interest spending over 20 years.
- Most Popular
- Most Emailed
- RICHARD'S POOR ALMANACK: On this day in 1778, Capt. James Cook is first European to set eyes on Maui in Hawaiian Islands; 1922, Pharoah Tutankhamun found after 3000 years; 1909, Hollawood movie star Frances Dee born in Los Angeles.
- TOMORROW'S HEADLINES TODAY: Hazmat unit called downtown, Boys & Girls Club hosts dinner for members and families, Secret Santa back on the beat, city discusses runoff problem on Mayfield Road, Brandon gets creative about fixes to town roads, sidewalks.
- RICHARD'S POOR ALMANACK: In 1944, U.S. begins B-29 bombing raids on Japanese main islands; in 1950, Great Appalachian Storm begins to form; 1963, Lee Oswald killed by Jack Ruby; 1974, D.B. Cooper hijacks Seattle-bound airliner; 1974, 'Lucy' found.
- RICHARD'S POOR ALMANACK: On this day in 1927, striking Colo. miners attacked with machine guns by state police; 1877, Thomas Edison announces invention of the phonograph, 1959, Alan Freed fired by WABC 770 AM for accepting payola to promote records.
- RICHARD'S POOR ALMANACK: On this day in 1863, President Abraham Lincoln delivers short speech in Gettysburg, Pa.; in 1984, a Pemex LNG facility destroyed by series of gas explosions, 600 people are killed; in 1998, Senate builds fire under Bill Clinton.
- RICHARD'S POOR ALMANACK: On this day in 1831 – Independent South American super-state, Gran Colombia, dissolved; 1856 - Fort Buchanan built to control Apache warriors; 1970 - William Calley Jr. goes on trial after 1968 massacre at My Lai, Vietnam.