Rome to borrow funds for graderPublished 9:24am Friday, July 6, 2012
County will buy township funds
ROME TOWNSHIP — Rome Township Trustees will participate in the County Treasurer’s Neighborhood Investment Program by issuing bonds for $60,000 to purchase a road grader.
The investment program allows governmental entities to issue bonds that are purchased by the county at interest rates lower than what they would have to pay a bank. The rate is also higher than what the county can get on its certificates of deposit.
The terms of this issuance will be 2 percent for five years with the first payment of $12,729.