Barnstable secures bids for $12.7M, 20-year bond issue
AAA bond rating reaffirmed
The Barnstable Patriot
The Town of Barnstable received competitive bids for a $12,695,000, 20-year general obligation bond issue, Barnstable Treasurer Debra Blanchette announced Wednesday.
Morgan Stanley & Co. was the winning bidder on the bonds, with an average interest rate of 1.33%.
The town received a total of 10 bids on the bonds, whose proceeds will be used to finance various municipal projects.
Together with the town s available funds and refinance bonds originally issued June 15, 2010 and June 14, 2011, the refinancing will generate $1,071,079 in gross budgetary savings over the remaining life of the bonds refunded, Blanchette said.