Pueblo Board of Water Works clears the way for Bessemer Ditch share buy

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From The Pueblo Chieftain (Chris Woodka):

The two resolutions clear up the relationship of the new debt to past and future obligations and give the board’s representatives flexibility in issuing the bonds next month. The board will issue up to $27 million in bonds for up to 5.5 percent interest, depending on several factors still undecided. The actual amount of the bonds is expected to be closer to $23 million at 4 percent interest when the bonds are issued on Oct. 22…

The board also is waiting to learn what portion of the bonds will be issued as Build America Bonds, part of the federal stimulus package, which could also reduce the financial impact and what level of bond insurance is needed. Market conditions also have to be taken into account.

More PBOWW coverage here and here.

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