Community Corner
Chelmsford Announces Successful Bond Refinancing
Town will now save more than $1 million over remaining years for sewer project and police station.
Chelmsford town officials Tuesday announced it refunded $9.49M of debt pertaining to the sewer project and the police station. The town will save $1,080,713 over the remaining seven years of the debt service.
The town’s AA bond rating helped secure the lower interest rate of 1.2626 percent. $7M of this debt pertains to the sewer project and is excluded from the provisions of Proposition 2 1/2. Therefore, this portion of the savings it cannot be reallocated for other municipal purposes. It will reduce the amount of the property tax levy.
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