City approves $6 million in bonds

By SHEILA SMITH

Assistant Editor

The Jennings City Council has approved issuance of $6 million in bonds for city hall’s relocation at a 3.65 percent fixed interest rate for 20 years.

The city is borrowing around the $6 million in Public Improvement Sales Tax Revenue Bonds for capital improvements to public buildings from the state to fund the project. The bonds will be repaid with the city’s 25-year second-penny sales tax, which was renewed and rededicated for that purpose by voter approval in December 2012.

Short URL: http://www.jenningsdailynews.net/?p=21738

Posted by on Aug 14 2013. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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