WINCHESTER - The Select Board approved the sale of the $8,845,000 General Obligation Municipal Purpose Loan of 2019 for McCall Middle School Phase II and Wildwood Street drainage to Robert W. Baird & Co., Inc. at the price of $9,481,429.41 including accrued interest.

Town Treasurer Sheila Tracy said the town received eight bids.

The bonds are payable on Aug. 15 from 2020 until 2044 as follows:

2020 - $230,000 with a five percent interest rate

2021 - $315,000 with a five percent interest rate

2022 - $320,000 with a five percent interest rate

2023 - $325,000 with a five percent interest rate

2024 - $335,000 with a five percent interest rate

2025 - $340,000 with a five percent interest rate

2026 - $350,000 with a five percent interest rate

2027 - $360,000 with a five percent interest rate

2028 - $370,000 with a five percent interest rate

2029 - $375,000 with a three percent interest rate

2030 - $385,000 wth a three percent interest rate

2031 - $390,000 with a three percent interest rate

2032 - $395,000 with a three percent interest rate

2033 - $405,000 with a two percent interest rate

2034 - $405,000 with a two percent interest rate

2035 - $410,000 with a 2.125 percent interest rate

2036 - $420,000 with a 2.25 percent interest rate

2037 - $425,000 with a 2.25 percent interest rate

2038 - $430,000 with a 2.25 percent interest rate

2039 - $430,000 with a 2.375 percent interest rate

2040 - $270,000 with a 2.375 percent interest rate

2041 - $280,000 with a 2.5 percent interest rate

2044 - $880,000 with a 2.5 percent interest rate

As part of the approval, the bonds maturing on Aug. 15 2044 will be subject to mandatory redemption or mature as follows:

2042 - $285,000

2043 - $295,000

2044 - $300,000 (the final maturity)

Tracy also noted that Moody’s confirmed the town’s Aaa bond rating, one of the reasons the town received such a low interest rate.

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