BARNSTABLE – Barnstable will be selling bonds Wednesday to fund capital projects.
Treasurer and Collector for the town Debra Blanchette said that $12.13 million of General Obligation bonds are expected to be sold through auctions with financial institutions.
Money from the sales of these bonds will be used to benefit infrastructure throughout Barnstable.
“They range from sidewalk improvement, school remodeling, sports field upgrades, several other projects included in that,” Blanchette said.
Other improvement projects include upgrades to drinking water pipes and land acquisition.
Last year, $10.54 million worth of bonds were made available. The most that has ever been offered in the town, according to Blanchette, was over $73 million, although she notes that included a mixture of both new money and a refunding.
The General Obligation bonds have been given a AAA rating, the highest possible rating, by S&P Global.
“Every time you go for a borrowing, S&P rates our bonds and, basically, rates the town’s financial strength,” Blanchette said.
Bonds will primarily be offered back to investors after they are won.
Barnstable has partnered with BondLink, a company that communicates with investors to facilitate sales.
Bonds are scheduled to be sold until 11 a.m.
For more information, visit www.BarnstableInvestorRelations.com.
About Brendan Fitzpatrick
