Medfield, MA $7,200,000 General Obligation Bonds Net 2.577%

Georgia Colivas, Town Treasurer, received competitive bids from bond underwriters on Wednesday, October 1, 2014, for a $7,200,000, 20-year bond issue. UBS Financial Services Inc. was the winning bidder on the Bonds with an average interest rate of 2.577%. The Town received a total of 10 bids. Bond proceeds will be used to finance land acquisition and water main replacement projects.

Prior to the sale Moody’s Investors Service, a municipal bond credit rating agency, assigned a rating of ‘Aa1’ to the Bonds. The rating agency cited the Town’s sound financial position with healthy reserve levels, stable tax base with strong wealth levels, and history of voter approvals for overrides and exclusions of Proposition 2 ½ as positive credit factors.

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.

These bonds finance the purchase of the Red Gate Farm property and teh construction of the new water tower at the MSH and the new water main along Hospital Road.