LOS ANGELES -- Small investors who snapped up $3.8 million of minibonds in Tacoma, Wash., last month will receive their bond certificates in the mail this week in the first minibond offering by the city's sewer utility.

Demand was high for the $1,000 denomination bonds, with the average purchase approaching $8,000, said Alex Gebhard, the utility's finance manager.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.