RI asks residents to buy state bonds

Rhode Islanders are getting first priority to invest in state bonds.

General Treasurer Gina Raimondo says state residents can buy bonds in increments as low as $1,000. The bond sale begins on Monday and ends the following day.

Potential investors should visit the treasury website, www.treasury.ri.gov, or contact their financial adviser.

The state is selling about $145 million in new bonds and refinancing $24 million in previous bonds. Proceeds will finance improvements to the Rhode Island Public Transit Authority’s bus fleet, construction of a chemistry building at University of Rhode Island and renovation work at Fort Adams State Park.

The bonds are dubbed INVEST RI. Bonds maturing from 2012 to 2031 will be sold in $5,000 increments. Bonds maturing on Feb. 1, 2014 will be sold in $1,000 increments.

Article source: http://www2.turnto10.com/news/2011/aug/22/ri-asks-residents-buy-state-bonds-ar-699046/

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