FORT SMITH — Investors responded eagerly, despite the chaotic economy, to Fort Smith’s offering of revenue bonds to raise money for sewer system improvements and the Police Department’s new radio system, a Fort Smith official said.

Acting City Administrator Ray Gosack said Tuesday institutional investors put in orders for all but $ 1. 5 million of the nearly $ 16 million worth of bonds Fort Smith voted to sell Tuesday. The remaining bonds were to be put up for sale to individual investors, but information on how those sales fared was not available Wednesday.

Source: Arkansas Democrat Gazette