(BARNSTABLE, MA) Debra Blanchette, Town Treasurer, announced that the Town of Barnstable received competitive bids from bond underwriters on Tuesday, February 9, 2021, for a $2,745,000, 15-year taxable bond issue. Robert W. Baird & Co., Inc. was the winning bidder on the Bonds with an average interest rate of 1.20%. The Town received a total of five (5) bids on the Bonds. Bond proceeds will be used to finance private roadway improvements.
Prior to the sale, S&P Global Ratings, a municipal bond credit rating agency, affirmed the Town’s ‘AAA’ bond rating, the highest rating attainable. The rating agency cited the Town’s very strong economy, very strong management with strong financial policies and practices, strong budgetary performance, very strong budgetary flexibility, very strong liquidity, strong debt and contingent liability profile, and strong institutional framework as positive credit factors.
The bids for the Bonds were accepted at the offices of the Town’s Financial Advisor, Hilltop Securities Inc., at 54 Canal Street in Boston, Massachusetts.