Glendale won’t immediately take advantage of a deal to sell federal stimulus bonds for local public projects, according to today’s Glendale News Press report.
The federal government would pay 45% of the interest, leaving the city with only a little over half of the debt obligation. Still, it means the city would take on more debt. The latest bond offer from the Treasury isn’t as good a deal as federal grants given outright to the city through the federal stimulus program.
Reinforcing the point in yesterday’s post, Glendale officials are maneuvering within the system, evaluating which federal government carrots they want to pursue.