P. O. Box 1589
400 West 19th Street
Jasper, AL 35501
Phone 205-221-2100

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City to invest portion of $11.2M bond

RON HARRIS - DAILY MOUNTAIN EAGLE

Jasper City Council members adopted a resolution Tuesday morning that will allow Mayor David O’Mary and city clerk Kathy Chambless to establish an account with National Financial Services to invest a portion of the bond issued recently by the city.

The $11.2 million bond will be used for a variety of projects across the city. The largest of those projects involves repaving city streets.

The investments will involve $3.5 million to $4 million of the $11.2 million for a period of six months. O’Mary said the investments, which will accrue interest, are “a way to defray some of our borrowing costs.”

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Located in northwest Alabama on Interstate Highway 22, Jasper is a thriving retail hub, center of growing industrial development and home to approximately 14,000 residents. Enjoying one of the top ranked education systems in the State of Alabama, ongoing renovated Park & Recreation programs and its close proximity to the outstanding recreation areas such as Smith Lake, Bankhead National Forest and the Warrior River makes it an attractive area for relocation. Mayor David O'Mary would like to welcome you to our city and web site.


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