Despite not being able to find a buyer for a $50 million transportation bond two weeks ago, the Maine Municipal Bond Bank decided Friday to go to market with $90 million in municipal bonds.
The bonds, which will raise money for 18 municipal borrowers for projects such as school construction and road improvements, are being offered to Maine borrowers today before going on the open market Wednesday, according to the Associated Press.
The interest rates offered on Friday for the bonds were between 5.25% and 5.5% for 20-year borrowers, but a final rate will not be known until Wednesday, Robert Lenna, executive director of the bond bank, told the AP.
