There is lots of good news this month, and I hope to be able to share it with you in several
articles over the next couple of weeks.
Of particular significance is the reaffirmation of Norwell's AAA Bond Rating by Standard and
Poors. This reaffirmation came when the Selectmen and Treasurer went to market with just
over $2,000,000 of bonds to fund our roads program, water department infrastructure and
the addition to the Council on Aging building. These expenditures were approved by our
recent Town Meeting.
Using our financial strength, we were able to borrow the $2.2MM at 1.49% for 20 years.
Once again, our AAA rating has substantially reduced our borrowing costs and also
eliminated costly insurance that many communities purchase as added assurance
that their bonds will be repaid.
Check back to the "Chairman's Blog" often for the latest news on what we are doing in
the Selectmen's Office to keep Norwell a great place to work, live and raise your family.
Respectfully,
Richard A. Merritt
Chairman
Norwell Board of Selectmen
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