HOLLAND, MI (WHTC) - Another way to invest in Holland’s future begins today.
The Tulip City puts municipal bonds out on the market to fund nearly three quarters of the 182 million-dollar cost for a new natural gas-fueled power plant to be built near 5th Street and Fairbanks Avenue, in the Eastern Gateway vicinity. City Council members three weeks ago approved the issuing of up to 195 million dollars in bonds to be paid back over a 25-year period, although about 160 million will be up for sale at an interest rate of between 4.2 and 4.3 percent, based on a Double-A rating by both Standard and Poor’s and Moody’s, whose agents sized up the city in a January visit.
The new power plant is slated to be built and be online by the end of 2016.