Sudbury Receives Top Credit Rating from Standard and Poor
Finance Director Andrea Terkelson announced during Tuesday's Board of Selectmen meeting Sudbury received a AAA rating.
A bit of good news came out of Tuesday's Board of Selectmen meeting when Finance Director Andrea Terkelson announced Sudbury was awarded a AAA rating from Standard and Poor — the highest rating possible.
"Since we obtained and maintained the rating, it shows we really have done the best we can to stretch the dollar as far as it will go," she said. "Some say money is cheap, but we don’t look at it that way. We’ve been thankful to have been able to maintain the credit rating."
Terkelson also announced the winning bid for CPA bond issue refunding. FTN Financial won with a bid of 1.368 percent.
"There will be savings of $585,000 over the remaining 12 years of those bond issues," she said. "It's well worth it. We can take advantage of how things are going for the town. It's a tremendous interest rate for us."
The Selectmen unanimously approved the winning bid.
"It's not a lot of savings to the taxpayer but it does add up," she said.
In other news from Tuesday's meeting:
- The Selectmen voted to expand the Fairbank Community Center Task Force which was created in November by appointing three at-large members. New members will work with the current Task Force members to develop a recommendations to the Board of Selectmen on roof replacement and the Master Plan for the Community center. Residents who are interested in serving on this Task Force should apply no later than Thursday, March 21, as the Board plans to appoint new members at its next meeting on Wednesday, March 27. Applications are found on the Town's website by clicking here, or residents may contact the Selectmen's Office at 978-639-3381 to request an application form or email email@example.com.
- Facilities Director Jim Kelly announced there will be an open house at the Sudbury Police Department on March 24 from 2-4 p.m. "We want to give people the opportunity to see it," Kelly said. "People drive by but don’t pay attention to it." The Selectmen recently approved a plan to build a new police station on Hudson Road next to the Fire Department Headquarters. "It's the first of several we hope to have," Kelly said.