The Hamilton County government sold bonds to Citigroup to finance $195 million in capital projects.
“This allows us to move forward with the capital projects that are needed for our schools as well as public safety needs,” Mayor Jim Coppinger said in a prepared statement.
Seven financial institutions bid on the right to buy the bonds and the winning bid was by Citigroup Global markets.
Citigroup submitted a winning interest rate of 2.65 percent, according to a news release.
Coppinger plans to use the money for $110 million in capital projects for the department of education which includes the construction of two new schools and other school projects.
Public safety will receive $20 million and the mayor plans to retire $55 million in variable rate debt that has been used for education, according to a news release.
Included in the bond issue is a refunding of $4 million of debt.
The bond transaction will be completed at the end of the month.