PROVIDENCE – R.I. General Treasurer Seth Magaziner has launched a campaign to encourage Rhode Islanders to purchase state bonds to support school construction, clean water and infrastructure initiatives.
This is the first time in a decade that Rhode Island has marketed state bonds directly to individual investors, according to R.I. Treasury spokesman Evan England. The state has also reduced the minimum investment to $1,000 and has structured the deal to give preference to individual investors when it goes to sale, he said.
The campaign includes a partnership with local artists to design bond advertisements for the state, including Simon Allen.
Magaziner’s announcement of the measures and the partnerships with artists comes ahead of a $153 million offering of bonds for projects such as school construction and renovation, dredging of the Providence River and funding of the Clean Water State Revolving Fund, among other voter-approved initiatives.
Starting Nov. 26, information on the upcoming bond sale will be available at www.RhodeIslandBonds.com. The sale is scheduled to commence Dec. 10. Information on the process of how to buy state bonds is already live on the bonds website.
“Beginning next week, Rhode Islanders will have a chance to make our state stronger by investing in Rhode Island Bonds,” said Magaziner in a statement. “By investing in Rhode Island Bonds, you will play a direct role in improving our state’s schools and natural environment, while also helping to keep more of the interest we pay to bondholders right here in Rhode Island.”
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