Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Town manager: Bedford retains Moody’s AAA rating; town sells solar-bond under 3 percent
Summary
Town Manager Rick Sawyer told the council Bedford retained its Moody’s AAA bond rating and sold the bond for a planned solar array at the transfer station at just under 3 percent. He said Moody’s cited the town’s strong tax base, capital reserves and fund balance.
Town Manager Rick Sawyer reported at the July 16 meeting that Moody’s retained Bedford’s AAA long‑term bond rating and that the town sold the bond for the planned solar array at the transfer station at just under 3 percent interest.
Sawyer said Bedford remains the only municipality in New Hampshire with Moody’s AAA bond rating, and that Moody’s cited a strong community tax base, established capital reserve funding, a fund balance policy and the town’s healthy fund balance as supporting factors. He added that the town sold the solar‑array bond for under 3 percent, noting that, to his knowledge, it was the only municipal bond sold in the state this year at below 3 percent.
Discussion versus decision: the report was informational; no formal action was taken other than receiving the update.
Clarifying details: Sawyer listed the rating factors Moody’s cited (tax base strength, capital reserves, fund-balance policy and community wealth) and reported the solar-array bond sale at just under 3 percent.
What happens next: standard bond administration and inclusion of financing in town accounting and capital project schedules.
