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Nov 20, 2012

Municipal Bond to be launched on Thursday

Darrell Bradley

The birth of a twenty million dollar municipal bond for Belize City was announced earlier this year in June. While the funds generated would have been used for several infrastructural projects around the City, floating the bond became a time consuming challenge for the City Council. The council faced mounting garbage collection debts while simultaneously trying to repair some of the worst streets in the City. The mayor now says that the bond will be introduced to investors on Thursday.

 

Darrell Bradley, Mayor, Belize City

“We are working closely with our external auditors; we’ve been talking with them—I had two conversations with them this morning and the only remaining thing is for them to sign off on our projections. Of course, we have the final draft of our prospectus. We’ve submitted the prospectus to them. It’s been with them since last week. They are going over the books; they’ve been working hard for us over this weekend and they came back with questions. We responded to the questions. Our internal team is working very, very closely with them and we anticipate that we will be able to launch our prospectus on Thursday of this week. And what we are going to do with the launch is that we are going to have a press conference and we will simply release it and the bond will be open for persons to review in terms of the information contained in the prospectus and persons will have thirty days to make an offer for purchase to the City Council. The bonds will be on sale at the Central Bank of Belize. We’re planning on doing it on the last leg of Freetown Road that is going to be completed. So we actually want to have a visual impact on what people will be getting if they invest in the bond and the contractor on Freetown Road, they are at Cinderella Plaza right now. That section is still not opened. It is going to be opened on Thursday and we want to open it along with the launch of the prospectus.” 

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5 Responses for “Municipal Bond to be launched on Thursday”

  1. FRGN investor says:

    No matter how good the prospectus looks, I nor any of my investment group will invest in Belize.
    It is just to risky. Count me out.

  2. R.I. says:

    WELL YOU CAN GO BACK WHERE YOU CAME FROM MY BROTHER!!!! FRGN INVESTOR WE DON”T NEED YOU HERE GO!!!!! PLS Go walking or go on a bike or ask for a hike but just GO!!!!! We Patriotic Belizeans will support the city council!! the best Mayor ever has shown that with a the little resources that the city had he has done quit a lot of concrete streets and drains!! Just Imagine how much more he would be able to do with 20 Million!! also he has shown a record of VALUE FOR MONEY!!!!

  3. Nimbu says:

    Finally! Just what we need. Another place for Social Security Board to “INVEST” more of our hard earned dollars.

  4. FRGN investor says:

    Nothing like cussing out a Foreigner to get the patriotic blood flowing. But do me and every one a favor. Next time you want to cuss us out, take off the NY Yankees hat.

  5. JMA says:

    R.I Nicely said.

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