Vallejo issues bonds that will fund $51.27 million in drinking water system improvement projects
On Wednesday the City of Vallejo took a step forward to improve the drinking water pipes, pumps, treatment plants, and water meters of the drinking water system by issuing its Series 2021A Water Revenue Bonds. The bonds will fund $51.27 million in drinking water system improvement projects, according to a news release from the city.
A bond is similar to an IOU but regulated by the government. Investors “buy” bonds from cities, which, like an IOU, is a promise that the city will pay the money back . . .
Read more here: https://bit.ly/3bOqf7r