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Domestic News
November 14, 1935
Montgomery County Sentinel
Rockville, Gaithersburg, Montgomery County, Maryland
What is this article about?
Montgomery County Commissioners sold $556,000 PWA school bonds and $114,500 refunding bonds to John Nuveen and Co. of Chicago at 3.75% interest, securing a $6,250 premium to cover expenses and interest until March.
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OCR Quality
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Full Text
School Bonds Are
Sold At Premium
To Chicago Firm
Low Interest Rate On PWA
And Refunding Issues Make
Offer Attractive
The Montgomery County Commissioners Tuesday voted to sell $556,000 PWA school bonds and $114,500 refunding bonds to John Nuveen and Co., of Chicago, at the low interest rate of 3 and three-fourths per cent. This will give the county a premium of $6,250 and will carry expenses of legal work and printing.
The commissioners had not wanted to sell the bonds this week, but it is understood that the generous offer of the Chicago firm could not be held over.
The PWA bonds are to provide the county's share of the cost of the school program which was given approval by the commissioners last week. The premium will permit the county to take care of the interest rates until March when Commissioners had planned to issue the bonds.
Sold At Premium
To Chicago Firm
Low Interest Rate On PWA
And Refunding Issues Make
Offer Attractive
The Montgomery County Commissioners Tuesday voted to sell $556,000 PWA school bonds and $114,500 refunding bonds to John Nuveen and Co., of Chicago, at the low interest rate of 3 and three-fourths per cent. This will give the county a premium of $6,250 and will carry expenses of legal work and printing.
The commissioners had not wanted to sell the bonds this week, but it is understood that the generous offer of the Chicago firm could not be held over.
The PWA bonds are to provide the county's share of the cost of the school program which was given approval by the commissioners last week. The premium will permit the county to take care of the interest rates until March when Commissioners had planned to issue the bonds.
What sub-type of article is it?
Education
Economic
Politics
What keywords are associated?
School Bonds
Pwa Bonds
Montgomery County
Bond Sale
Commissioners Vote
What entities or persons were involved?
Montgomery County Commissioners
John Nuveen And Co.
Where did it happen?
Montgomery County
Domestic News Details
Primary Location
Montgomery County
Event Date
Tuesday
Key Persons
Montgomery County Commissioners
John Nuveen And Co.
Outcome
sale at 3.75% interest rate with $6,250 premium covering legal, printing expenses, and interest until march
Event Details
Commissioners voted to sell $556,000 PWA school bonds and $114,500 refunding bonds to Chicago firm despite initial reluctance, as offer could not be delayed; bonds fund county's share of approved school program