Finance staff told the Select Board on March 12 that the town completed a sale of permanent debt and bond anticipation notes and recommended awarding the financings to the lowest‑cost bidders.

Finance Director Bridal (Finance Director) reported the town conducted a sale that included roughly $32.9 million in permanent debt financing (numbers presented in the meeting packet) and $5.79 million in bond anticipation notes (BANs). The permanent financing included funds for affordable housing projects (including the Richmond Gooseberry project), sanitary sewers tied to the South Valley Road pump station, seawall work, and general fund projects such as the Rand station rehab and continued downtown sidewalk construction.

The town received six bids for the permanent debt sale; Bridal told the board that KeyBank Capital Markets submitted the winning bid with a total interest cost in the packet of about 3.594845%. She said the amortization periods on the bonds range from five to 25 years and the bonds are callable after year nine, allowing the town to refund later if market conditions improve.

For the bond anticipation notes (totaling $5,790,000), Bridal said the town recommended Fidelity Capital Markets with a net interest cost of 2.27365% and explained that a portion of the BANs (roughly $1.5 million) financed costs ineligible for state revolving fund (SRF) loan proceeds on a sewer force main project; the rest included community preservation and housing‑related tranches.

Select Board members moved and seconded a motion to approve the finance recommendations as posted in the board packet. The board voted unanimously to accept the awards and authorize the financings.