Politics & Government

Concord Schedules $9.995 Million Bond Sale

The Town of Concord has scheduled a bond sale in May offering $9,995,000 of General Obligation Debt.

CONCORD, MA—The Town of Concord announced its first bond sale of 2016 Monday.

The Town announced that it has scheduled a bond sale for Wednesday, May 11 at 11 a.m. offering $9,995,000 of General Obligation debt. The bonds have various maturities from Sept. 15, 2016 to Sept. 15, 2027 with an average maturity of 5.45 years.

According to the announcement, $4,250,000 of the proceeds from the sale will go to numerous town projects, including the road improvements from the 2015 road program, Concord Public Schools building renovations, the construction of the school transportation facility among other projects.

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$5,220,000 will go towards advanced refunding of the March 1, 2007 and the Sept. 15, 2007 bonds.

Moody's Investors Service last rated the bonds Aaa in May of 2015, the highest ranking given by the service. The report cited a stable outlook for the town. 

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