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Town Treasurer & Tax Collector
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Town Treasurer & Collector
Assistant Town Treasurer & Collector
Town of Belmont, Homer Building
19 Moore Street - PO Box 56
Belmont, MA 02478-0900
Monday - Friday 8AM - 4PM

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April 16, 2014

For Immediate Release

For Further Information, Contact:
        Floyd S. Carman, Treasurer
        Town Hall
        455 Concord Avenue
        Belmont, MA  02478
        Tel: (617) 993-2782

Town of Belmont $28,962,000 Bonds Net 2.951%

Floyd Carman, Town Treasurer, announced that the Town received competitive bids from bond underwriters on Tuesday, April 8, 2014, fora $28,962,000 20-year bond issue.  Morgan Stanley & Co, LLC was the winning bidder on the Bonds with an average interest rate of 2.951%.  The Town received 8 bids on the Bonds.  Bond proceeds will be used to finance construction and upgrades to the Belmont Municipal Light Plant, water main replacement, field repairs and vehicle replacements.

Prior to the sale, Moody’s Investor Services, a municipal bond credit rating agency, assigned a rating of ‘Aaa’ to the bonds, the highest rating attainable. The rating reflects the Town’s healthy financial operations which are bolstered by strong reserve levels, moderately-sized tax base with strong wealth indicators and a manageable debt position.

The bids for the Bonds were accepted at the offices of the Town’s Financial Advisor, First Southwest Company, at 54 Canal Street in Boston, Massachusetts.

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Belmont Town Offices  455 Concord Avenue, Belmont, MA 02478    PH: (617) 993-2600
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