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Beloit sells general obligation bonds

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Steve Benton
April 6, 2010
— The Beloit City Council Monday night awarded the sale of $4.1 million in taxable general obligation corporate purpose bonds at an interest rate of about 3%. Beloit City Council President, Jim Van De Bogart says that's the lowest he's ever seen.

He says the city's recent A+ rating by Standard and Poors certainly helped to get that low rate.


The city will also be using about $4 million in left over "bid America bonds" from a $10 million allocation to Rock County. He says the county only used $6 million and the city applied for, and received the remaining money.


Van De Bogart says that's the first time that's been done by a municipality in Wisconsin.



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