MONCKS CORNER, SC (WCSC) - Santee Cooper will open a mini-bond sale on October 1. The bonds will be used to perform system maintenance to better serve its customers. The sale will let investors buy municipal bonds for as little as $200.
Santee Cooper Mini-bonds, which under current tax regulations are exempt from federal and South Carolina state taxes, are available for purchase by residents of South Carolina and customers of Santee Cooper, members of the state's electric cooperatives, and electric customers of the City of Georgetown and the Bamberg Board of Public Works. Interest rates vary according to the bond maturity dates, which range from 2015 through 2030.
The sale will continue through October; the last date to request an information packet is Oct. 22, and the last date to order Mini-bonds is Oct. 29.