MONTGOMERY, Ala. (AP) - State government's largest bond issue ever has become a reality.
State officials opened bids today from seven companies wanting to handle the bond issue of more than $1 billion. Lehman Brothers offered the lowest interest rate of 4.18 percent.
The Legislature approved the bond issue for education projects in May. State Finance Director Jim Main says selling the bond all at once allows school systems to plan entire projects rather than doing them piecemeal.
The bond issue will provide more than $690 million to elementary and secondary schools and nearly $257 million to two-year and four-year colleges. The remainder goes to other projects.
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Alabama Opens Bids For Its Largest Bond Issue
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Alabama's13.com
Published: December 06, 2007
Published: December 06, 2007
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