MARTINSVILLE – City Leaders have signed the papers to close on the General Obligation Bonds that will total gross proceeds of approximately $1.9 million dollars, at an interest rate of 1% per annum. The bonds will close on November 4, 2021. The purpose of the bond money will be to acquire fire apparatus, including equipment related thereto, renovations and miscellaneous facility improvements at the city garage, and various capital projects throughout the city.
The purchase of the fire apparatus was authorized by the common council in August of this year. Detailed drawings for the apparatus were shared at the signing. Work at the city garage will include the installation of new lifts in the mechanic’s bay.