City of Somerville, Massachusetts
General Obligation Bonds, 2018 Series
A (Minibond Program)


Invest in Somerville minibonds while earning tax-exempt interest! The proceeds from the City's first ever minibonds issue will support certain projects including, but not limited to school buildings improvements, Citywide Bicycle & Pedestrian Upgrades and Lincoln Park renovation. Please review the offering documents under "Documents" tab for full details.

Issuance characteristics
  • Not callable
  • Federally tax exempt
  • General Obligation
  • Negotiated sale

About this bond issuance

  • Purpose

    Below is the list of projects that will be supported by this issuance:

    • School and City Buildings Improvement  
    • Citywide Bike / Ped Upgrades  
    • Street/Sidewalk Repairs              
    • ADA Curb Ramps            
    • Accessibility Improvements  at Public Buildings
    • West Branch Library Design & Engineering          
    • Powder House Blvd Traffic Signals          
    • Engine 7 Roof Replacement      
    • LED Light Conversion    
    • Union Square Streetscape & Utility Improvement          
    • DPW Hybrid Refuse Trucks        
    • Modular Fire Housing    
    • West Branch Library Final Design              
    • Lincoln Park Renovation
    • Cedar Street Water Repairs
    • Cedar Street Sewer Repairs

  • Obligor

    City of Somerville, Massachusetts

  • Issuer

    City of Somerville, Massachusetts

  • Authority

    The Bonds are authorized for various municipal purposes under Chapter 44, Sections 7 and 8 and Chapter 70B of the Massachusetts General Laws as detailed in the POS.

  • Security

    The Bonds are valid and binding general obligations of the City and, except to the extent they are paid from other sources, the principal of and interest on the Bonds are payable from taxes which may be levied upon all taxable property in the City, without limitation as to rate or amount, except as provided under Chapter 44, Section 20 of the General Laws, with respect to that portion of the principal and interest payments that the City has voted to exempt from the limit imposed by Chapter 59, Section 21C of the General Laws, and subject to the limit imposed by Chapter 59, Section 21C of the General Laws with respect to that portion of the principal and interest payments that the City has not voted to exempt from that limit, provided that taxes levied on certain taxable property located within a development district established by the City pursuant to Chapter 40Q of the General Laws may be restricted and unavailable to pay the principal of and interest on the Bonds.

  • Sale conditions

    • Only Somerville, MA residents can place orders for this issuance
    • Bonds are offered on a first-come first-served basis
    • Maximum amount of $20,000 per person; for orders above $20,000, the amount of the order above $20,000 is subject to pro-rata allocation if the issue is oversubscribed. Pro-rata allocations may be adjusted to ensure that no bonds are issued in an amount that is not divisible by the minimum denomination of $1,000.

  • Net Roadshow

    Please view the recorded investor presentation via the link below:









Financing team

Neighborly Securities
Neighborly is the lead manager on this issuance.
Municipal Advisors
Bond Counsel
Paying Agent