BARNSTABLE – The Town of Barnstable has announced that it has received competitive bids from bond underwriters for a $2,745,000, fifteen year taxable bond issue.
The report comes from Debra Blanchette, Town of Barnstable Treasurer, who said that the winning bidder on the bonds was Robert W. Baird & Co., Inc. with an average interest rate of 1.20 percent.
In total, the town received five bids on the bonds.
The proceeds will be used to finance private roadway improvements.
Before the sale, the Town’s credit municipal bond rating was recently affirmed as ‘AAA’ by S&P Global Ratings, the highest rating attainable.
The agency cited the town’s strong economy, financial policies, budget management, and institutional framework as positive credit factors for the rating.
The town’s strong liquidity and debt and contingent liability prolife also helped Barnstable secure the rating from S&P Global Ratings.
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