SPARTA, NJ –Sparta CFO Grant Rome announced the sale of bonds at the October 27 meeting in the amount of $6,863,700. The resolution, unanimously passed at the Sept 22 council meeting authorized the issuance of Bond Anticipation Notes in two funds.
The first was in the amount of $5,663,700 for water and sewer projects. That bid was won at the rate of .6950 percent.
The second issuance, in the amount of $1.2 million, was for various capital projects, according to Rome. Passaic Valley Water Commission was the winning bidder at a rate of 1.04 percent.