Town prepares low-interest bonding package
Wilton Finance Director Anne Kelly-Lenz was glad to tell the Board of Selectmen Feb. 20 that during a time when many towns are slipping financially, Wilton has maintained a strong AAA bond rating with Moody’s Investors Service because of conservative management.
That bond rating is the town’s credit rating. It means that the town will have favorable interest rates next week when it issues a bond package in the amount of $11.7 million to finalize payments for Miller-Driscoll School, road upgrades and other capital costs.
Kelly-Lenz said the interest rate on 10-year debt will be 2%, and the interest rate on 20-year debt will be lower than 3.02%.