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March 16, 2020

City Council launches second municipal bond

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Posted: Monday, March 16, 2020. 11:09 am CST.

By Aaron Humes: The Belize City Council administration of Bernard Wagner has launched the second municipal bond to help pay for a wide infrastructure program.

While much of the first bond floated by Mayor Darrell Bradley for $20 million is still being paid, this Council according to Wagner wants to take advantage of its improved efficiency and cash position.

Entering its final year of this term, Mayor Wagner says the Council has now gotten its financial house in order, reducing internal borrowing by more than half, and intends to give back to the voters who put it in office.

“[The bond] will be able to help us improve the quality of life in the City,” said Mayor Wagner, adding that when the first bond is complete by 2023-24, those funds will improve the position of the City even further.

Central Government passed specific legislation to support the bond last year.

More details coming up.

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