OUC en las noticias   Prensa/medios   Bib. publicaciones   Centro de información   Más acerca de OUC		Comunicado de prensa de OUC Para su divulgación inmediata:   volver a archivo February 8, 2000 Paul Dillon |   OUC Cuts Checks To Investors Bonds Produce Solid Earnings, Utility Improvements ORLANDO (February 8, 2000) – It’s payday for the nearly 2,000 people who invested in "Baby Bonds" issued by OUC a decade ago. The bonds matured today, resulting in solid earnings for investors and continued improvements at the city-owned utility. OUC is mailing checks to everyone who purchased the 10-year bonds, which carried a tax-exempt interest rate of 7.1 percent. At that rate, the bonds doubled in value over the term of the program. Interest was earned and compounded semi-annually. "This was a fantastic opportunity for the public to make a sound return on investment while sharing in the success of OUC," said Bob Haven, OUC’s general manager and CEO. The $32 million worth of Baby Bonds came in denominations of $250, with a maximum purchase amount of $10,000 per investor. This allowed more people in the community to participate in the tax-free financing of ongoing improvements to OUC’s electric and water systems. Tax-free municipal bonds typically are offered in denominations of $5,000 or more and purchased by banks and other large institutional investors. OUC—The Reliable One is a municipal utility owned by the City of Orlando. It provides electricity and water services to about 158,000 customers in Orlando, St. Cloud and parts of Orange and Osceola counties.