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TREASURERS NOTICE BULLETIN BOARD
February 24, 2010
Belmont Press Release
Belmont $26,700,000 Unlimited Tax School Bonds Net 3.733%
Floyd S. Carman, Town Treasurer, announced that the Town received competitive bids from bond underwriters on Tuesday, February 9, 2010 for a $26,700,000, 25-year unlimited tax school bond issue. Citibank Global Markets Inc. was the winning bidder on the Bonds with an average interest rate of 3.733%. The Town received 7 bids on the Bonds. The Bond proceeds will be used to finance a construction project for the Roger Wellington Elementary School.
Prior to the sale Moody’s Investors Service, a municipal credit rating agency, affirmed the Town’s Aaa rating, the highest rating attainable. The agency cited the Town’s history of stable financial operations supported by strong management and fiscal policies, wealthy residential tax base and low debt burden as positive credit factors.
The bids for the bonds were accepted at the offices of the Town’s financial advisor, First Southwest Company, at 54 Canal Street in Boston, Massachusetts.
For Further Information, Contact:
Floyd S. Carman, Treasurer
19 Moore Street
Belmont, MA 02478
Tel: (617) 993-2782
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