Monday, December 1, 2008

City's Thanksgiving Surprise

The City of Asbury Park succeeded in getting a buyer for a $3.3 million dollar Bond Anticipation Note, which came due this fall, said Greg Mayer, City CFO. The note is one of two the City has to reset. A second note, for about $2.5 million, has to be reset by June. The City paid a consultant $5,000, which Mayer says may be covered by other funds, to shop the note. The closing is set for this Friday, 12/7; and, the interest rate is expected to be no more than 4.55 percent.
The end of year municipal tax sale is set for December 16th. Be sure all of your city utility and tax bills are current.

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