- customer service
- place your ad online
- mobile
- e-mail alerts
- Wednesday, February 15, 2012
Printer friendly version |
E-mail to a friend |
Bonds to finance construction of Cabarrus County's jail housing unit went on the market Thursday at a rate of 4.94 percent for the $58.8 million bond sale.
Cabarrus County officials made a choice to wait to sell these bonds until the market was more favorable. With guidance from the county's underwriters, Cabarrus County watched the market to select the best date.
The 4.94 percent interest rate is only .30 percent higher than the rate just prior to the shift in the economy. "We wanted to be prudent and wait for the right opportunity to sell," said Pam Dubois, Cabarrus County deputy manager and finance director.
"This is a great rate, and we wanted to get ahead of other local governments selling their bonds, since there is so much backed up demand in the market."
The bonds for the jail housing unit will be paid by semi-annual payments over the next 20 years. Cabarrus County will pay interest only for the first two years. The payment for this fiscal year will total $1.4 million.
The 580-bed jail housing unit is under construction behind the newly opened Cabarrus County Sheriff's Administration Building on Corban Avenue in downtown Concord.
If you would like to subscribe to the Salisbury Post, click here.
Comments
Notice about comments:
Salisburypost.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Salisburypost.com cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not Salisburypost.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website.
DO NOT POST:
* Potentially libelous statements or damaging innuendo.
* Obscene, explicit, or racist language.
* Personal attacks, insults or threats.
* The use of another person's real name to disguise your identity.
* Comments unrelated to the story.
Full terms and conditions can be read
here
Salisbury Post is proud to offer our users enhanced commenting features. You can now build user-to-user connections, follow friend's recent posts, add an avatar that fits your personality, and more.

Electronics Guide
Auto loan Information
Parenting Information
Financial Information
Legal Information
Home Services Information
Gardening Information
Educational Information
Laptop Information
Gift Information
Health Information
Computer Information
Franchise Information
Singles Guide
ATV Information






