Hours:
Monday - Thursday
8:00 am - 4:30 pm
Friday till 1:00 pm
Temporary Address:
61 Ffyler Place
Suffield, CT 06078
Sign up to receive an email alert when Agendas & Minutes are posted. Click on the white bell in the yellow square in the far-right corner of the page and follow the directions.
SUFFIELD, Conn. – Suffield First Selectwoman Melissa M. Mack announces positive results from its $10.5 million bond sale yielding a 1.59% competitive interest rate and a bond premium of $848,000 on the strength of solid reviews from S&P Global Ratings. The bond will finance the Town Hall project, fire apparatus, Remington Street Bridge, street lights and road improvements. “The Town presented a bond package favorably received resulting in the lowest rate on a bond issuance in Suffield’s history and a rate comparable to those issued to AAA rated municipalities over the last month,” said Mack. “The impact on taxpayers is considerably less than originally anticipated - great news in the current COVID-19 environment. I am grateful to the many boards, town departments and our municipal partners who were instrumental in best positioning the Town to take advantage of this opportunity.”
S&P’s rating for Suffield held steady at AA+, one notch away from the most coveted AAA rating. S&P referenced Suffield’s “strong management,” while considering the “tax base very diverse,” and proximity to Springfield, Hartford and Bradley International Airport as factors influencing the high credit rating. Also noted, the Town’s “very strong economy” and “strong budgetary flexibility”.
Matthew Spoerndle, Senior Managing Director of Phoenix Advisors, LLC and Suffield’s Financial Advisor notes, “S&P continues to recognize the efforts of leadership to maintain Suffield’s fiscal health, and as a result, the Town was able to issue debt at very low levels. The positive results were driven by the strong credit rating and prudent financial management of the Town.”
Suffield received a total of eight bids on the bonds, with UMB Bank submitting the winning bid. The tightly contested sale netted offers from the top four firms within a range of only 5 basis points (0.05%). The high bid was 1.80%. UMB bested INTL FCStone, Janney Montgomery Scott who won the Town’s last bond sale in 2016, and Robert Baird, among others. The settlement date for the sale is October 6, 2020, after which the funds become available to the Town.
About Suffield
The Town of Suffield is a quintessential New England town boasting a population of 16,600. The many people who serve Suffield through town government - as employees and volunteers alike - remain committed to developing and fostering a strong sense of community among its residents. More information about the Town of Suffield is available at www.suffieldct.gov.
For additional questions, contact Director of Finance Deborah Cerrato at (860) 668-3851.
####
Interested in receiving notifications when Town News and Agendas & Minutes are posted? Follow these quick and easy steps:
For residents who signed up to receive emails on the old website, you will need to sign up again on the new website. Unfortunately, the new website did not allow for the transfer of subscriptions. Thank you for your cooperation.
Please contact the webmaster, Kim Worthington, if you have any difficulties.
![09-23-2020 Board of Selectmen Meeting Agenda]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1573747585/suffieldctgov/dxgvbvjoxa1wiwlb0kzf/TownSealPostThumbnail250x250.jpg","width":250}])
![09-14-2020 Board of Education Minutes]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1573747730/suffieldctgov/x7w6mzqfboyighjobros/SPSPostThumbnail250x250.jpg","width":250}])
![Suffield Police Department Shield]([{"url":"https://resources.finalsite.net/images/f_auto,q_auto/v1573496144/suffieldctgov/tqxwnbfd4zmafy7dw0c0/download.jpg","width":232}])