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“Historic moment”

Aldermen, city commission members and other supporters of the sales tax refunding to support city improvements gather around Cabot Mayor Bill Cypert on Thursday as he signs the ordinance approving the bond sale. The ordinance was approved in a special meeting. Sale of the bonds netted the city about $39.8 million. The bond sales were brisk, Cypert said earlier. More than 75 percent of the bonds sold within the first 90 minutes, he said. The funds will be used to back a number of city improvements, from revamping the wastewater collection system, to parks and recreation expansion projects and a new library. Not only were the bond sales good, the interest on the bonds is 3.086 percent; projections of cost were based on a range of 3.5 to 3.7 percent. “This is a very good day for the City of Cabot, Arkansas; and, Cabot has a very bright and prosperous future,” he said in a message. (photo by Mark Buffalo)

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