City Of Omaha Issues Bonds To Fund Various Projects

By: WOWT Email
By: WOWT Email

The City of Omaha issued $25 million in bonds Tuesday to fund street and sewer projects, public facilities, park and recreation and public safety.

The 20-year bonds were sold at the interest rate of 3.24%, nearly identical to the rate projected by underwriters prior to the announcement last week that Standard and Poor's had downgraded the city's bond rating.

The city's AA+ rating from S&P is the second highest rating possible. Moody's Investment Service reaffirmed Omaha's AA1 bond rating, which according to the Mayor's office is higher than 85% of all U.S. cities.

The city expects to issue bonds again in early 2014 for the combined sewer separation project.

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