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The City of Clarksburg held the bond closing for $2.75 million slip remediation projects today, Thursday, June 13, 2019 in the City Manager’s Conference Room.
In attendance were City Manager Martin Howe, Finance Director Kim Karakiozis, City Clerk Annette Wright, Mayor Catherine Goings, Piper Jaffray Managing Director Joe Nassif, Steptoe and Johnson Bond Counsel Tom Aman and Jason Turner, MVB Market President Herman DeProspero and Carrie Cecil Esquire Spilman, Thomas and Battle PLLC.
The seven (7) slip remediation projects are: Upper Winding Way, Lower Winding Way, Quarry, Ascension Street/Brannon Avenue, Lowndes Hill, Magnolia Street off of Milford Street and Leon Street. The City is continuing to assess and prepare bid specs for Leon Street.
The bond terms are 5.5% fixed interest rate with a 10-year maturity date.
City Manager Martin Howe stated, “These were all funded through the 1% Sales and Use Tax and is another great example of utilizing this newly implemented revenue source to continue with major infrastructure improvements and stabilize roadways.”
For more information on the seven (7) slip remediation projects visit http://www.cityofclarksburgwv.com/CivicAlerts.aspx?AID=308&fbclid=IwAR1HA4Gd3GvwhYPqciZ6i3uWGHXho5iikObUUi04LDfuR5L_qHnZQ7EEM48