Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Torrington sells bonds and BANs at low rates, board approves transfers and moves ahead with budget tools
Summary
Treasurer reported strong results from recent bond and bond-anticipation-note sales, the board approved budget transfers and performance reports, and staff outlined plans for a new digital budget book and revaluation impacts.
The Torrington Board of Finance on March 18 received several finance updates: the city completed bond and bond-anticipation-note (BAN) sales at competitive rates and with premiums, the board approved budget transfers and performance reports, and staff described plans to adopt a ClearGov digital budget book as the city assesses the fiscal impact of a recent revaluation.
Treasurer's report: bonds and BANs The treasurer reported the city sold $15.9 million in general-obligation bonds and $22.35 million in bond-anticipation notes. Cabrera Capital Markets won the bond award with a reported true interest cost of about 3.267% and paid a premium of $1,313,268.49; the BANs were awarded to Janney Montgomery Scott…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
