DENVER – The City and County of Denver announced this morning that the sale period for its recently announced Denver Mini-Bonds is now closed due to strong demand. These unique investments were made possible by voter approval of the 2007 Better Denver Bond Program and were offered only to Colorado state residents.
“We are pleased with the strong response from Colorado citizens,” said Cary Kennedy, Deputy Mayor and the city’s Chief Financial Officer. “Coloradans have proven once again they value the investments we are making in Denver and want to be a part of Denver’s success.”
Coloradans quickly purchased all of the Denver Mini-Bonds available—a total of $12 million—before the end of the planned order period. Proceeds from the sale will fund remaining work on Better Denver Bond projects.
To make the initial announcement, Mayor Hancock utilized a vintage style video that encouraged Coloradans to buy the mini-bonds. Click here to view the video announcement by Mayor Hancock.
The order period began today, Aug. 4 at 8:00 AM online, and was scheduled to run through Friday, August 8. The 2014 Denver Mini-Bonds were offered in denominations of $500, with a maximum purchase limit of up to$20,000 per registered bond owner.
Denver’s General Obligation bonds, including 2014 Mini-Bonds, are considered to be one of the safest investments around. They are AAA-rated; the highest rating awarded by Moody’s, Standard and Poor’s, and Fitch.
Since voters approved the Better Denver Bond Program in 2007, the city has invested more than $538 million in restoring, refurbishing and replacing city infrastructure. The 2014 Mini-Bonds utilized the remaining $12 million of Better Denver Bond Authorization. To learn more about the 2014 bond sale, go to: www.denvergov.org/minibond.