Town of Southborough, Massachusetts
General Obligation Municipal Purpose
Loan of 2018 Bonds

Town Of Southborough Massachusetts

Invest in Southborough today while earning tax-exempt income! The bond proceeds will fund various enhancements such as: field turf, fire engines, DPW Underground Fuel Tanks, Historical Preservation Restriction Acquisition, and Public Safety Facilities. See the summary below and read the Preliminary Official Statement under "Documents" for full details.


Issuance characteristics
  • Contains callable maturities
  • Federally tax exempt
  • General Obligation
  • Competitive sale

About this bond issuance

  • Purpose

    Invest in The Township of Southborough today.  The Township of Southborough, MA will be using these proceeds for various enhancements to the town, including:

    • 9/11 Memorial Field Turf
    • Fire Engines
    • Choate Field Lights Replacement
    • DPW Underground Fuel Tanks
    • Historical Preservation Restriction Acquistion
    • Public Safety Facilities

  • Issuer

    Town of Southborough, Massachusetts

  • Authority

    Serial bonds and notes are authorized by vote of two-thirds of the town meeting.  Refunding bonds and notes are authorized by the selectmen.  Borrowings for some purposes require State administrative approval.

    When serial bonds or notes have been authorized, bond anticipation notes may be issued by the officers authorized to issue serial bonds or notes.  Revenue anticipation notes and temporary notes in anticipation of authorized federal and state aid generally may be issued by the Treasurer with the approval of the Selectmen.

  • Security

    The Bonds are valid and binding general obligations of the Town and, except to the extent they are paid from other sources, the principal of and interest on the Bonds are payable from the taxes which may be levied upon all taxable property in the Town, without limit 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 Town has voted to exempt from 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 Town has not voted to exempt from that limit.

Ratings

Ratings

AAA

S&P

Moody's

Fitch

Financing team

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