With AAA Bond Rating, Town Secures $5M Bond Issue with Interest Rate Under 1%

As reported in a press release, the Town of Great Barrington’s AAA bond rating has helped secure an interest rate of .979% on a $4,990,000 bond. The 20-year bond is for the financing of various capital projects.

S & P Global Ratings, a municipal bond credit rating agency, attributed the town’s AAA bond rating -- the highest attainable—to the town’s strong economy, management, financial policies and practices, strong liquidity, as well as its strong debt and contingent liability profile.

Town Treasurer Karen Fink and Finance Director Susan Carmel ushered the bidding process through to completion.

“Because the town is able to maintain its AAA bond rating in a pandemic, we had seven financial institutions bid on our bond,” said Carmel. “It was very competitive, and the town is very pleased with the below 1% interest rate.”

The bids for the bonds were accepted at the offices of the town’s financial advisor, Hilltop Securities Inc. in Boston.

For more information Information contact: Karen Fink, Town Treasurer, 334 Main St., Great Barrington, 01230, (413) 528-1619 ext. 117.

Take a Transit Survey 

On another note, the Regional Transportation Advisory Committee (RTAC), working to improve the area's transportation, invites residents, students, seniors, employers and employees to complete a brief survey.

Participants will be entered into a drawing for a $25 Big Y gift card.

"We are working to help shape future transportation services and hope that everyone will participate, even if they've never taken a bus in their life," says Tate Coleman, chair of RTAC.

The 4-minute survey asks questions about public and senior transportation in Southern Berkshire County. Questions are not specifically about the Berkshire Regional Transportation Authority, but include all forms of transportation south of Pittsfield.

"We also encourage people to share this survey link with others," says Coleman.

You can get more information by emailing: Tcoleman@townofgb.org

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