In a municipal bond sale dated April 21, 2022, the Louisville/Jefferson County Metro Government in Kentucky borrowed $212 million from investors. It was a “general obligation bond” sale, meaning the metro government will repay the bonds out of local tax revenues, in slices that start next year and run till 2042, including 4-5% interest depending on the maturity dates. Interest income from the bonds is exempt from federal income taxes. Like most major cities, Louisville typically does at least one general obligation bond sale every year. The borrowed funds usually pay for construction and infrastructure projects outlined in the city’s capital budget.
Read more at Next City.