Citigroup Buys Hamilton County Bonds

Tuesday, March 6, 2018

Hamilton County went to the bond market Tuesday morning to finance $195 million in capital projects. Seven financial institutions bid on the right to buy the bonds and the winning bid was by Citigroup Global markets.  

Citigroup submitted a winning interest rate of 2.65 percent. 

PFM Financial Advisors Managing Director Lauren Lowe said, “We are very pleased with the results of this morning’s bidding, this is a terrific rate in today’s current interest rate market.” 

County Mayor Jim Coppinger was also pleased with the winning rate bid, calling it a great win for Hamilton County. “This allows us to move forward with the capital projects that are needed for our schools as well as public safety needs. 

County Mayor Coppinger plans to use the money for $110 million in capital projects for the department of education which includes the construction of two new schools and other school projects. Public safety will receive an infusion of $20 million and the mayor plans to retire $55 million in variable rate debt that has been used for education. 

Included in the bond issue is a refunding of $4 million of debt. County Mayor Coppinger points out this will save Hamilton County taxpayers over $300,000. “This is another example of our conservative fiscal approach to governing as evidenced by our recent Triple-A bond rating by three major bond rating agencies.” County Mayor Coppinger also added, “We know this is not our money, but the taxpayer’s money and we are dedicated to using that money in the best possible way to benefit our residents.” 

The bond transaction will be completed at the end of the month.

Hixson Man Found Sleeping In Car Near Home He Allegedly Burglarized

A Hixson man, who is charged with burglarizing a home on Bea Lane, was found sleeping nearby in a car he does not own. Joseph Heath Anderson, 36, of 1607 N. Chester Road, was charged with aggravated burglary and theft of property. The man whose home was burglarized said he was in Alabama on Sunday when he got a call from a neighbor who said items were being taken from his ... (click for more)

Corker Hopes Congress Will "Rise To The Occasion" On Trade Policy

In remarks on the Senate floor on Tuesday, Senator Bob Corker, chairman of the Senate Foreign Relations Committee, said he hopes Congress will “rise to the occasion” and assert its constitutional authority on trade policy by passing his bipartisan  legislation  to require congressional approval of tariffs designated under Section 232 of the Trade Expansion Act of 1962. ... (click for more)

Never Replacing Claude Ramsey But Following His Example

When Claude made his decision not to seek reelection as the 26th District state representative I made my intention known to seek the office following him.  Immediately opponents from both parties began to qualify for that opportunity.  With Bill Bennett as my campaign manager and many of Claude’s supporters going door to door into the community, as Claude had done in his ... (click for more)

Roy Exum: Participation Trophies

You may remember several years back when James Harrison, a linebacker for the Steelers at the time, came home to discover his two sons, who were then ages 8 and 6, had received “participation trophies” on a sports team. Harrison, who earned his way into the NFL (he was not drafted out of Kent State yet played in five Pro Bowls), promptly loaded his sons and the bogus trophies in ... (click for more)

Ooltewah Swimmers Beat Signal Mountain For First Time

The Ooltewah Tidal Waves had another outstanding performance at their pool Monday night. They knocked off Stuart Heights on Thursday in a battle of unbeaten in the Chattanooga Area Swim League’s Blue division and they added another monumental win four days later as they defeated Signal Mountain for the first time ever. The Tidal Waves led from the opening freestyle event and ... (click for more)

CFC Wins 2-0 At Inter Nashville FC

Chattanooga FC remained undefeated in NPSL play Wednesday night, beating Inter Nashville FC 2-0 in Nashville.   David Valenciano had CFC's first goal late in the first half.  Jose "Zeca" Ferraz scored the second goal minutes before the final whistle.  This is the fourth road game in the last two weeks and they play their final rode game at New ... (click for more)