2018 Birmingham warrant issue
The 2018 Birmingham warrant issue was a sale of $40 million in capital warrants offered by the City of Birmingham to finance development of a new Bus Rapid Transit system and several other public projects.
The warrant offer is for a 25-year repayment period with an anticipated interest rate of 3.68%, to be paid from the city's general fund through 2043. Along with the new warrants, the city refinanced $40 million of Series 2007A bonds, for a savings of about $7 million to the city's bond reserve fund over their remaining term, to 2033.
- $20 million: matching funds for federal grants for Bus Rapid Transit system
- $1.75 million: additional funding for Bus Rapid Transit system
- $7.5 million: expansion of Birmingham Eastern Landfill
- $4.6 million: site work for Grand River Technology Park
- $2.25 million: repairs and upgrades at Legion Field
- $1.5 million: replacing escalators at Birmingham Central Library with stairs
- $800,000: funds toward replacement for Wylam Library
- $750,000: repairs and upgrades at Boutwell Auditorium
- $600,000: add basketball courts at Birmingham Crossplex
- Edgemon, Erin (July 30, 2018) "How Birmingham plans to spend $40 million in capital improvements warrants." The Birmingham News