Fairfield Officials Praise Interest Rates On Bond, Note Sales

FAIRFIELD, Conn. – The Town of Fairfield Bond Committee recently took part in a $11.5 million bond sale and $14.3 million note sale, with exceptional interest rates of great benefit to the town, First Selectman Mike Tetreau said.

The Town of Fairfield Bond Committee recently approved a bond sale and note sale to JP Morgan and UBS Financial, respectively.
Photo Credit: *Contributed*

by Lynn Funk

08/08/2014 4:00 a.m.

The Bond Committee is made up of the Board of Selectmen, Town Treasurer Helen D’Avanzo and Fiscal Officer Robert Mayer.

The committee approved the note sale to JPMorgan Chase & Co., which offered a bid at 0.117 percent, and the bond sale to UBS Financial Services, which offered a bid at 2.856 percent.

“The town is extremely pleased with the highly successful outcome of today’s bond and note sale,” Tetreau said. “I thank our fiscal management team for their sound management that has resulted in the town being able to fund projects with these low rates that will save taxpayer dollars.”

Among those who attended the auction were Frank Cleary of Pullman & Comley LLC, the town’s bond counsel, and Matthew Spoerndle of Phoenix Advisors, the town’s financial adviser.

“The town should be very pleased with the results of today’s very successful sale,” Spoerndle said. “Clearly, the town’s exceptional bond ratings had a great impact on the rates.”

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