Over-expansion in Hampshire may mean that bondholder will receive only 33 cents on a dollar. Could something similar be looming on any Boone County projects?
75 million worth of bonds were sold in 2007 to raise money to build roads, expand wastewater and water treatment plants, and other infrastructure improvements to serve the planned Prairie Ridge, Oakstead and Tamms Farm subdivisions.
Three weeks ago, the village [of Hampshire] submitted a tender offer to the bond holders to buy back the bonds for about $28 million. The $28 million would come from funds still unspent from the original bond sale, plus $3.5 million kicked in by Crown.
