First Selectman Mike Tetreau announced today that the Bond Committee, which consists of the Board of Selectmen, Town Treasurer Helen D’Avanzo and Fiscal Officer Robert Mayer, participated in a $11,500,000 Bond Sale and a $14,030,000 Note Sale resulting in exceptional interest rates.
The Bond Committee unanimously approved the Note Sale to JP Morgan, the winning firm that bid 0.117%. The Bond Committee also unanimously approved the Bond Sale to UBS Financial, the winning firm that bid 2.856%.
First Selectman Mike Tetreau said, “The Town is extremely pleased with the highly successful outcome of today’s bond and note sale. I thank our fiscal management team for their sound management that has resulted in the Town being able to fund projects with these low rates that will save taxpayer dollars.”
Frank Cleary, of Pullman & Comley LLC, the Town’s Bond Counsel, and Matthew Spoerndle of Phoenix Advisors, the Town’s Financial Advisor, were also present at the auction. Mr. Spoerndle said, “The Town should be very pleased with the results of today’s very successful sale. Clearly, the Town’s exceptional bond ratings had a great impact on the rates.”