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Virginia Politics
Posted at 11:22 AM ET, 05/14/2011

Arlington to sell $207 million in bonds

The Arlington County Board approved the June sale of $207 million in bonds for public projects Saturday at its regular hearing.

About $70.7 million will be used for parks and neighborhood improvements, including Arlington Mill Community Center and Long Bridge Park. The sale also includes $44.5 million for construction at Yorktown and Wakefield high schools, as well as other school projects.

The board said the public will be able to invest in this bond package, which will likely be an option on June 13 and 14.

“Over the years, many Arlingtonians have expressed a desire to invest further in our community through the purchase of bonds,” said County Board Chairman Christopher Zimmerman in a statement. “This approach was very successful in 2009. By selling bonds to individual buyers through brokers and dealers, we will once again help diversify our investor base.”

In 2009, more than 5.6 percent of the county bonds were sold at retail, which included $21 million worth purchased by Arlington residents.

The county does not have its current bond ratings yet, but it had AAA ratings from all three agencies in 2010.

For more information on county bond retail sales visit www.buyarlingtonvabonds.com.

By  |  11:22 AM ET, 05/14/2011

Categories:  Arlington County

 
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