HYANNIS-Competitive bids on General Obligation bonds and notes totaling nearly $13 million were submitted to the town of Barnstable this week.
Treasurer and Collector for the town Debra Blanchette announced that bids for a $10,855,000, 20-year bond issue, along with a $2,052,950, one-year taxable note issue, were received.
Morgan Stanley and Co., LLC was the winner on the bonds, with a 1.69% average interest rate.
Piper Sandler and Co. was the winning bidder on the notes; the net interest cost was 1.88%.
In total, the town received nine bids on the bonds and five bids on the notes.
The town will used the proceeds from the bids to fund multiple capital projects.
The AAA bond rating for the town was confirmed by S&P Global Ratings prior to the bidding. AAA is the highest possible rating attainable, and it is based on the town’s economic strength.
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