City Council Approves $37 Million Bond Issue

Published on February 17, 2017

The City Council unanimously voted to approve the sale of $37 million of general obligation warrants during a special called meeting today in City Hall. The bond issue will be used to provide $17.4 million for city schools, $8.6 million in funding for the capital plan, and $11 million in road construction.

“We are extremely pleased at the response from the 20 competitive bids we received today and have accepted the low bids at a rate of 3.37 percent,” said Peggy Sargent, Director of Finance.

Mayor Battle says Huntsville’s top Triple-A credit ratings and robust economy have afforded the City most favorable interest rates and the eye of savvy investors. “We’re able to save taxpayer’s money and stretch our dollars farther by maintaining a fiscally responsible government,” said Battle.

The City plans to use the capital funds for fire trucks, roadways, and other capital requirements.