For this first time, Somerville residents will be able to invest in small-denomination municipal bonds – minibonds – during a purchase period this May.

These minibonds will help Somerville fund capital projects, such as park and library renovations, while offering investors the opportunity to earn tax-exempt interest.

The bonds will be issued through Neighborly, a dealer-broker, which has previously sold minibonds in Cambridge and other communities around the country.

For those interested, there will be information sessions on May 15 and 23.