Southborough Bond Issuance Spring & Late Summer 2018

 

Town of Southborough, MA $10,585,000 General Obligation Bonds Net 3.196%

 

The Town of Southborough received competitive bids from bond underwriters on Wednesday, April 25, 2018, for a $10,585,000, 29-year bond issue.  Neighborly Securities was the winning bidder on the Bonds with an average interest rate of 3.196%. Bond proceeds will be used to finance six different municipal projects, including $7,760,000 of the new Public Safety Facility construction.

 

In early September the Town will again be soliciting bids for a temporary note of $7,704,500 to drawdown additional funding for the Public Safety Building, as well as limited funding for Recreation Field/Track Improvements approved at Town Meeting. This temporary note will be due in June 2019 and at that time a permanent note will be issued.