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.
Smashed windows and doors. A leaking roof and collapsed ceilings. Scattered bottles of alcohol and litter likely left by trespassers.
Online reviewers of Harbor Point Restaurant, located at 156 Harbor Point Road in Barnstable, recounted “fairy tale” weddings at the eatery and event space as recently as 2016.
But five years later, Barnstable town officials say the building has deteriorated enough to pose a danger to the public.
“It is our duty and intent to remove the structure or make it safe in order to protect the public,” Robert McKechnie, an inspector with the town, wrote in a Jan. 29 letter to restaurant owner Robert Falanga, which is included in court filings.