Provincial bonds go on sale Feb.16
For the first time in 13 years, Alberta Capital Bonds will go on sale.
The bonds will start selling Feb. 16, and it's expected the money will help build accommodations for Alberta seniors, which will include long-term care, supportive living facilities, and group homes.
The province hopes to raise $100 million with the bonds. Recently, the government gave $50 million in grant money to private companies to create or renovate hundreds of assisted living beds.
Last fall, Premier Ed Stelmach said that the bonds would be backed by the Alberta's triple A credit rating and have a competitive rate of return.
Bonds will be available for purchase at participating banks, and are only available to Alberta residents, and provincial-based residents.
The province says the minimum purchase is $1,000 with a maximum of $25,000 per Albertan.