CTV Winnipeg: City of Winnipeg issues $200M in bonds to fund capital projects
The City of Winnipeg is turning to investors as it looks to fund some large-scale infrastructure projects, including the enhancements of libraries, community centres and police stations.
On Thursday, the city announced that it has issued $200 million in new bonds, which have already been purchased. The money will go to projects including the South End Water Pollution Control Centre, the north district police station, and the St. James Civic Centre.
The bonds were issued on a 40-year term at an interest rate of 4.65 per cent. The city notes that unlike federal and provincial governments, it can’t legally borrow to balance operating budgets.