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The Holland City Council Agrees to Sell Nearly $200 Million in Bonds

The Holland City Council Agrees to Sell Nearly $200 Million in Bonds

The Holland City Council agrees with it's BPW to sell nearly $200 million worth of bonds, which is to say the local government would borrow that money to build the new electric power plant.

The Mayor tells the Holland Sentinel that the city has never gone that deeply into debt ever before.

It will be the electricity customers paying that back, over the next 25 years.

But the BPW General Manager tells the newspaper that, if the natural gas prices remain as low as expected in the first couple of years the new power plant's operation, the BPW would start repaying the debt in about 7 years.

 

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