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Town says BANs renewal closed with US Bank; finance team met with S&P
Summary
Finance Director Beverly Ciurylo reported the town successfully closed renewal of Bond Anticipation Notes with US Bank in June and that new BAN proceeds were deposited before payment of expiring notes. The update was presented alongside other year‑end financing materials.
Beverly Ciurylo, Finance Director, told the Fiscal Policy Committee the town completed renewal of its Bond Anticipation Notes in June after meetings with the financial advisor, bond counsel and Standard & Poor’s.
"the renewal of the BANs had been successfully closed with US Bank in June and that the banking side of it went smoothly," Ciurylo said, noting that the town deposited proceeds from the new BANs before paying the expiring notes. She described the transaction as routine but emphasized it followed discussions with credit and counsel advisers.
The committee received a packet of financing documents including mill rate history and an analysis of the amount to be raised by taxes for the 2026–2027 proposed budget. Committee members did not move any additional actions on the financing at the meeting but recorded the update for ongoing budget planning.
Members asked staff to continue coordination with the town’s advisors and to include any follow‑up notes in the next FiPAC packet.
