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Assistant Finance Director McGowan reports competitive $35M G.O. bond sale; winning bid at 3.07%
Summary
Assistant Finance Director McGowan told the Administrative Committee the town’s competitive sale for up to $35 million in general-obligation bonds drew a record 24 bids; SWBC Investment Services won the deal with a true-interest cost of about 3.069% and the town retained AAA ratings, enabling lower borrowing costs.
Assistant Finance Director McGowan briefed the Administrative Committee on the results of the town’s competitive sale of general-obligation bonds, explaining the issue (up to $35,000,000, repayable over roughly 15 years) will fund capital projects including a fire-rescue headquarters and emergency operations center, land acquisition for conservation and issuance costs.
McGowan said the town…
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