Latest News, News City of Camas officials are calling the city’s Dec. 15 sale of 2021 limited general obligation bonds “a big success.”
Camas issued nearly $10.2 million in par bonds and sold the bonds at premium for an additional $1.9 million, for a total of nearly $12.1 million.
Of the original project amount of $12 million, the city secured $6 million for refinancing, $3.5 million was for the city’s Green Mountain land acquisition, $1 million for the Ostenson Canyon project and $1.5 million for maintaining city facilities.
The total interest cost to the city was just over 2 percent. Camas Communications Director Bryan Rachal stated in a news release that the interest rate was “a historic low for Camas” and attributed some of the figure to the city’s recent credit upgrade.
The bonds are 20-year bonds, with an average debt service of $748,363 annually.
