Following up on the bond measure passed by voters last November, Bend Park & Recreation District sold General Obligation Bonds on Tuesday, May 14 at an interest cost better than the district anticipated during the election.
Dedicated to fund new park lands, trails and recreation amenities, the $29 million dollar bond measure was expected to cost taxpayers $.24 per $1,000 of assessed property value but is now projected to come in at less than $.22 per $1,000.
“We are pleased with the lower tax rate and low true interest cost of 2.99%,” states Don Horton,
The bonds received a Moody’s municipal bond rating of AA3, given to issuers that demonstrate very strong creditworthiness relative to other