Taxpayers Receive Unexpected Benefit from Fire Bond Sale

Release Date: 
09/12/2017

The City of Pendleton received higher than expected revenue from the sale of municipal bonds during the sale today. 

The citizens of the City of Pendleton voted to allow a bond measure of up to $10,000,000 to replace the existing fire station and critical safety equipment.  Prime market conditions resulted in the sale of $9,060,000 in debt, which is nearly $1 million less than the election measure allowed, to raise $9,999,860 through the General Obligation Bonds.  The tax levy rate of .62 per thousand as stated on the tax measure will drop to .51 per thousand after the first five years, which will directly benefit the taxpayers of Pendleton. 

The City of Pendleton is working every day to be the premier city in eastern Oregon.  For further questions about these meetings or other City related items please contact the City at 541-966-0201.