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The original item was published from 4/13/2015 3:02:13 PM to 7/27/2016 5:11:21 PM.

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* Hampton City News

Posted on: April 13, 2015

[ARCHIVED] Bond sales saves city nearly $5.6 million

April 13, 2015 - The City of Hampton sold two sets of bonds on Thursday, April 9, obtaining lower interest rates than original projections. The city refinanced $56 million in bonds at an interest rate of 2.117%, saving a total of nearly $5.6 million. That was an increase of $275,000 above the earlier projection.

In addition, the city sold bonds to support new projects, which earned an interest rate of 2.825%. That will give city $53.7 million in construction funds to support city and school projects for multiple years. Bank of America Merrill Lynch was awarded both sets of bonds after a competitive bid process.

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