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Interest rates on bonds to finance Bettendorf's capital improvements come in higher than expected; post-election expectations cited as factor in hike

on Wed, 11/23/2016 - 03:33   by Editor

The election of Donald Trump may have many meanings around the country, but in Bettendorf one of the most immediate impacts will be higher interest rates on new city debt.

And, that translates into higher costs for the coming slate of capital improvements, ranging from a new $250,000 ice-skating rink to $1.4 million in downtown redevelopment to $700,000 for a Great Lawn in the new Forest Grove Park.

The higher interest rates also prompted the city to scrap a $28-million General Obligation (GO) bond refinancing plan, at least temporarily.

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