State Bond Sale Starts In Worcester
Gov. Deval Patrick, Lt. Gov. Timothy Murray and State Treasurer Steve Grossman were in Worcester today to officially kick off the Build Mass Bonds program, which offers $1,000 state bonds.
The state officials held the event at the Worcester State Hospital site, which is one of the projects that will be funded through the bond offering. The governor presented the first bond to Alan Lavine, owner of Percy's TV and Appliance in Worcester.
The $1,000 denomination is lower than the typical bond offering of $5,000, which the state says will allow smaller investors to take advantage of them. They are part of an approximately $500 million bond issuance to find capital projects across Massachusetts.
Massachusetts hasn't sold a $1,000 bond for more than two decades, according to a state press release.
The bonds are being offered to individuals from now to Monday. The remainder of the bonds will be offered to institutional investors starting Tuesday.
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