The sale of $26.8 million dollars in Citizen’s Bonds available only to Vermonters was supposed to last from Monday morning until Wednesday. But the state treasurer’s office says the $1,000 bonds sold out by Monday afternoon.
Citizen’s Bonds have been part of the state’s bond offerings since the 1990s. They’re general obligation bonds used to raise money for a variety of state projects. Depending on the date of maturity, the interest rates on this year’s crop vary from .29% to 2.07%.
If you’re wondering about the reliability of an investment in Vermont Citizen’s Bonds, the treasurer’s office says, “the full faith and credit of the State of Vermont is pledged to pay principal and interest (i.e., debt service) on the bonds. As a operational matter, debt service is budgeted and paid for each year from the State’s general fund.”