September 21, 2012
million dollars in long term bonds yesterday relating to debt service for the Town Toyota Center. The sale
closes the book on a nightmarish debt scenario hovering over the city of Wenatchee.
"margin: 0in 0in 0pt">In the simplest terms, the bond seller went into the
marketplace yesterday and introduced bonds to sell, and were a hot ticket. Wenatchee Mayor Frank Kunz said
they were “spoken for” within an hour and a half.
times the offers out there than there were bonds to sell. Kunz said all that interest allowed the city to
lower the interest rate of return, which ultimately saved the city up to 50K a year in repayment. The bond
sale should officially close a week from today