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April 24, 2014, 6:17 pm
970 WMAY News

Springfield Offers Bonds to Local Investors Today


In case you had forgotten… the City of Springfield is selling bonds to local investors today to help finance its upcoming infrastructure projects.

 

That reminder came out late Tuesday from the mayor’s office… hours after Alderman Joe McMenamin appeared live on 970 WMAY to complain that local brokerages and investors had little or no information about the planned sale. McMenamin later called the process a “farce.”

 

The city says it will make the bonds available to local investors first before taking the sale out to institutional investors on the larger market.

 

Bonds are available in $5,000 increments with interest rates of 1 to 5-percent, depending on their date of maturity.

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