Town borrows at 2.16% interest

The town closed May 12 on bonds totaling $15,788,000 at an interest rate of 2.16% for capital items authorized last fiscal year.

The large majority (95%) of that amount was $15,000,000 for the Miller-Driscoll School renovation.

The $788,000 balance splits into $90,000 for an architectural and engineering study of Fire Station II in North Wilton, $400,000 to pave the Middlebrook School and Wilton High School parking lots, and $298,000 to fix the HVAC system at Middlebrook.

Chief Financial Officer Anne Kelly-Lenz told The Bulletin town officials are pleased with the outcome of the sale.

“When we got this interest rate, our bond counsel and our financial advisers were pretty happy with how low it was,” she said.

Kelly-Lenz said eight lenders participated in the bid, which was open until 11:30 p.m. May 12. The winner was Robert W. Baird & Co. Inc.

The range of rates submitted was 2.16% to 2.37%.