Rowan County Sells $45 Million Bond at Lower than Anticipated Interest Rate

Bond sale saves $1.8M for Rowan taxpayers

SALISBURY — Rowan County's recent General Obligation bond for Rowan-Cabarrus Community College for a $45 million bond sale received strong interest from investors, with 15 underwriters submitting proposals for the transaction. Following a competitive bidding process, Mesirow Financial, Inc. submitted…

Rowan County sells $45 million bond at lower than anticipated interest rate

Rowan County sold the $45 million general obligation bond for Rowan-Cabarrus Community College after undergoing a competitive bidding process. The county commissioners approved the bond selling process at their meeting on Feb. 16 with only one commissioner opposed. Fifteen underwriters submitted proposals for the translation. The county estimated that the interest rate would be around 3.5 percent; however, the winning bid from Mesirow Financial,…