City finance staff on Nov. 5 told the Winchester Common Council that the city's Oct. 22, 2025 bond sale produced favorable pricing and competitive bidding.

"We sold bonds on the October 22," Finance Director Mary Glowa said. She reported the bonds priced at 3.45 percent and that 14 bidders participated, the highest number the city has seen in recent years. "We had 14 bidders, which is the most we've ever had," she said.

Staff compared the sale to a 20‑year double‑A index and said the city, now triple‑A rated, expects about $888,000 in interest savings over the 20‑year life of that issue compared with the AA index. Across all issuances, staff reported comparative savings of about $4.4 million. Fidelity purchased the bonds; the sale will close the following morning.

The council discussion noted that the city used an updated interactive bidding process that lets bidders see and improve offers during the solicitation window, which staff said increased competition. Finance staff also briefed the council on next steps for capital projects funded by the bonds, including selection of architects and preliminary design work for a constrained fire‑station site; staff said they plan to interview three architects and expect to select one within one to two months.

No council action was required on the bond recap; staff said closing would occur shortly after 10:10 a.m. the next day and funds will be available for projects once the transaction completes.