Linden street bond update
On July 11th, the Linden City Council unanimously approved issuing $6 million for the street certificate of obligation bond debt. “Initially,” says City Manager Lee Elliott, “when Council began looking at debt to fix our street infrastructure, we were looking at an interest rate of 4.5% since we are a small taxing entity. Our financial planner believed if we had our debt rated, we could possibly receive a lower interest rate, possibly around 4.0%.”