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Bedford celebrates low-interest bond, readies Chubbuck Road solar groundbreaking
Summary
The Town of Bedford reported a below-3% bond rate and a $305,000 premium to fund the Chubbuck Road solar project, with construction possibly beginning in August and commissioning dependent on Eversource interconnection approvals.
Bedford Energy Commission members said the town sold a 10-year bond to finance the Chubbuck Road Solar Facility at a rate below 3 percent and received a premium that reduced net financing costs. The commission discussed why the sale succeeded and how that affects the project’s schedule. The sale produced multiple bidders and a winning bid “2.95%,” and commission members said the town’s financing cost is effectively lower after a $305,000 premium. Energy Commission member Chris Bandasian said, “The winning bid, is 2.9 well, I'm gonna round it off 2.95%,” and later noted, “we actually are financing only 2.89 million.” The commission credited…
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