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Arlington offers residents first crack at bonds

Tuesday - 6/14/2011, 10:04am  ET

ARLINGTON, Va. (AP) - Arlington residents have an opportunity to invest directly in their county's financial health with first crack at buying more than $125 million in bonds.

The county is holding a retail sale of its general obligation bonds, with residents getting priority. The sale began Monday and concludes Tuesday.

On Wednesday, the county will sell the remaining bonds to institutional investors.

Arlington ran a similar sale in 2009 and expanded outreach this year by advertising on local radio.

County spokesman Jason Friess said the retail sale has proved popular with county residents.

Arlington is one of just 36 counties across the country with Triple-A bond ratings from all three rating agencies. The bonds pay anywhere from 0.23 percent on a 1-year note to 3.87 percent on a 20-year note.



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