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Deerfield sells two bond issues to fund capital projects; Moody’s affirms AAA rating
Summary
Trustees authorized issuance of tax‑exempt and taxable general obligation bonds after competitive auctions produced favorable rates; Moody’s affirmed the village’s AAA credit rating.
The Village Board approved ordinances Feb. 2 authorizing the sale of two general‑obligation bond issues to fund capital projects and a property acquisition.
Municipal adviser Anthony Miselli reported results of competitive auctions held that morning: the tax‑exempt 2026A issue was priced at about 3.6242% (resized to roughly $6.4 million par) and the taxable 2026B issue priced at about 5.002% (resized to roughly $2.26 million par). Anthony said the tax‑exempt rate was lower because interest on those bonds is tax‑exempt to investors; the taxable piece carried a higher yield because buyers pay federal income tax on interest.
Staff also told trustees Moody’s Investors Service affirmed the village’s AAA rating citing strong local economic indicators, robust reserves and solid pension funding. Trustees voted to approve the ordinances; closing was scheduled for Feb. 18.
Finance staff said proceeds will support the village’s two‑year capital plan, including street and water projects and the taxable portion tied to a property acquisition whose resale could be used to abate the debt in the future.
