MADISON (WKOW) The City of Madison is selling community bonds from Oct. 3, 2018 – Oct. 9, 2018 to help finance the expansion of Olbrich Botanical Gardens.
By buying community bonds, residents can invest in the future of our city and earn interest that is exempt from federal taxes at the same time, according to a press release from Madison Mayor Paul Soglin.
The new learning center at the gardens will welcome learners of all ages, interests, abilities and backgrounds.
An energy-efficient greenhouse will grow even more flowers and plants for the gardens, according to Soglin’s press release.
“This partnership gives Madison area residents an opportunity to invest in one of the jewels of the city: Olbrich Gardens,” said Soglin. “ I am excited to give our residents easier access to investing in our community and getting a good return on that investment.”
Community bonds will be sold in denominations of $500.
This is significantly lower than typical bonds offered by the city, making this program more accessible to community investors, says Soglin.
Through Neighborly Securities, the city hopes to sell up to $2.1 million in community bonds during the seven-day purchase period.
Residents interested in buying community bonds can register an account before the order period at cityofmadison.com/community-bonds.
The city will hold two informational sessions to allow residents to ask questions about the new program Tuesday, Sept. 25 at 6:00 pm in Olbrich Botanical Gardens 3330 Atwood Ave.