Invest in Our Community - City of Madison Community Bonds
Tuesday, September 11, 2018 - 12:10pm
Community Bonds available Oct. 3 – Oct. 9, 2018
The City of Madison is selling community bonds* from Oct. 3 – Oct. 9, 2018! By buying community bonds, residents can invest in the future of our City, and earn interest that is exempt from federal taxes at the same time.
The City will use the funds from the community bond program for the expansion of Olbrich Botanical Gardens. The new learning center at the Gardens will welcome learners of all ages, interests, abilities, and backgrounds. An energy-efficient greenhouse will grow even more flowers and plants for the gardens.
“This partnership gives Madison area residents an opportunity to invest in one of the jewels of the City: Olbrich Gardens,” said Mayor Soglin. “Working alongside the capital campaign overseen by the Olbrich Botanical Society, this bond offering is another way to be a part of a facility that will serve all ages and demographics for years to come. I am excited to give our residents easier access to investing in our community and getting a good return on that investment.”
Community bonds will be sold in denominations of $500. This is significantly lower than typical bonds offered by the City, making this program more accessible to community investors.
Through Neighborly Securities, the City will sell up to $2.1 million in community bonds during the 7-day purchase period, Oct. 3 – Oct. 9, 2018.
“By providing smaller denominations than typical City debt offerings, Neighborly’s community bond program is in keeping with Madison’s long-standing commitment to civic action,” said David Schmiedicke, Finance Director for the City of Madison. “It will give our residents a much easier way to invest in our triple-A rated city, and they can expect a solid return on that investment.”
Residents interested in buying community bonds can register an account before the order period at cityofmadison.com/community-bonds.
The City will be holding two informational sessions to allow residents to ask questions about the new program at:
- Tuesday, Sept. 25 at 6:00 pm
Olbrich Botanical Gardens
3330 Atwood Ave.
- Wednesday, Oct. 3 at 6:00 pm
Warner Park Community Recreation Center
1625 Northport Dr.
Community bonds are exempt from federal taxes only. Under state law, interest on community bonds is not exempt from state taxation. City of Madison community bonds will not be subject to redemption prior to maturity. The interest rate will be determined at the opening of the order period.
To learn more about setting up an account or buying community bonds, please visit cityofmadison.com/community-bonds.
* 2018 Series D City of Madison Promissory Notes
- Katie Crawley(608) firstname.lastname@example.org