Tacoma Environmental Services is offering a “flush” investment in the community, with a guaranteed, four percent, tax-free return by investing in municipal minibonds, which went on sale Monday, and will be available through Friday, Nov. 16.
Sold in $1,000 increments, individuals can purchase up to $10,000 in minibonds, and couples can purchase up to $20,000.
Up to $2.5 million in minibonds will be available.
Proceeds will help finances Environmental Services’ four-year capital improvement program, which includes major improvements to Tacoma’s Central Wastewater Treatment Plant.
The city issued the bonds, which mature in seven years.
Bondholders receive tax-free interest payments twice a year, beginning June 1, 2002.
“Environmental Services mininbonds are a great way to invest in the environment and helped enhance Tacoma’s quality of life,” said Karen Larkin, assistant public works director/Environmental Services.
“It also gives residents a sense of ownership in our utilities.”
Wastewater treatment plant improvements include changes designed to increase capacity and essentially eliminate unrelated sewage overflows during heavy rainfall.
Other improvements will enable Environmental Services to comply with upcoming state and federal regulations while expanding facilities to improve wastewater treatment service for up to 75,000 new people.
To purchase minibonds, call the city’s 24-hour minibond hotline at 253/573-2433.
Callers will be placed on a mailing list to receive a minibond subscription form and other important legal documents.