When are City of Brockville Debentures on sale? When do I receive interest on them?
Annually the budget process will determine the necessity to issue City debentures. There were no debentures issued since 2005.
If required, debentures will be offered for sale in early October. The City will publish the specific details of the debenture issue, including the dollar amount available and interest payable, in the Recorder & Times newspaper under the Civic Section and via the local radio station.
Debentures are a good way to invest your money. The rate of return is competitive with other investment avenues.
When you purchase debentures from the City of Brockville it is important that your debenture be kept in a safe place so that when they mature you present them at the Bank of Montreal to obtain your principle.
The City issues interest payments twice a year - June and December which can either be direct deposited to your account or a cheque can be issued to you directly.
If you have any questions pertaining to debentures you may contact either of the following people at City Hall:
The local media will advertise in the fall of each year if debentures are going to be available for sale.