BRIEF: Moore sells road bonds

Sun. December 28, 2008; Posted: 05:57 AM

MOORE, Dec 27, 2008 (The Oklahoman - McClatchy-Tribune Information Services via COMTEX) -- MS | Quote | Chart | News | PowerRating -- City officials have sold $7.4 million in general obligation bonds to finance road improvements to New York-based Morgan Stanley.

Assistant City Manager Stan Drake said the interest rate was set earlier this month at 4.856 percent.

The bonds are part of the $18 million bond proposal approved by voters Nov. 4 to fund five road improvement projects.

The first project will begin this spring. It will widen SW 19 from four to six lanes and add sidewalks along 19th from W Interstate 35 Service Road to Telephone Road. City Manager Steve Eddy said the bond will increase property taxes by $6 a month for homes or businesses valued at $100,000.

The remaining projects will be completed in phases through 2011. They are:

--NE 12 from N Eastern to N Bryant avenues

--NW 5 from Markwell Avenue to Telephone Road

--NW 12 from Janeway Avenue to W I-35 Service Road

--Broadway from N 5 to N 18.

To see more of The Oklahoman, or to subscribe to the newspaper, go to http://www.newsok.com. Copyright (c) 2008, The Oklahoman, Oklahoma City Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Morgan Stanley (MS) click here. Morgan Stanley (MS) has Short Term PowerRatings of 7. Details on Morgan Stanley (MS) Short Term PowerRatings is available at This Link.

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