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BARRE — The state will offer $25 million in “citizen bonds” starting March 5.
Money raised during the bond sale will be used to finance school construction; maintenance and construction at the University of Vermont and the Vermont State Colleges; pollution control; affordable housing; maintenance of state buildings; and other projects.
In the past, citizen bond sales have sold out in hours. Bonds may be purchased in $1,000 increments and must be purchased through a registered broker or dealer. Interested citizens should check with registered brokers or dealers now if they would like to buy the bonds in March. The maturities of the bonds will range from one to 10 years.
The citizen bond sales were scheduled for October but were postponed after Tropical Storm Irene.
If there are any bonds remaining after the public sale, the rest will be made available to retail and institutional investors from outside Vermont.
In addition to the citizen bonds, the state treasurer’s office plans to offer general obligation refunding bonds. The amount of those bonds will depend upon the level of interest rates at the time of sale. -
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