Belmopan Floats $6.5M Bond for Infrastructure Programs
A 6.5 million dollar municipal bond was launched this morning at Bull Frog Inn in Belmopan, Cayo District. The bond’s purpose is to primarily address public works projects in the city. Mayor Khalid Belisle spoke to the current sales of the bond and the investors.
The Managing Director for Heritage Trust and Financial Services Limited, Stephen Duncan noted in his presentation that he is quite comfortable that this is a solid investment.
As it relates to the structure and the terms of the bond, Ervin Perez of Legacy Fund Limited says that the process to invest in the bonds has been simplified.
Now, with the bonds explained, endorsed and now up for sale there is the question of how future councils in Belmopan will be able to cope with this 14-year commitment. Mayor Belisle says this has been well-thought out.
According to the Belmopan City Council there are several benefits to this municipal including the improvement of infrastructure, the interest paid to those who are investing, the generation of jobs and the opportunity for persons to make a solid investment.