Concord Sells $17.5 Million in Bonds at 3 Percent True Interest Rate

CARLISLE -- May 7, 2026, Concord Finance Committee closes organizational meeting with surprise bond sale news: $17.5 million sold the same day at a 3 percent true interest cost. CFO Jennifer reported at the May 7 session that the sale, tied to a reaffirmed AAA Moody's rating, netted approximately $16.1 to $16.2 million after a $1.8 million premium, with maturities ranging from five to 20 years and the longest piece covering the final tranche of middle school borrowing. The committee also welcomed two new members, retired banker Rita Rich and Harvard public policy instructor Don Parker, and tentatively assigned liaisons to bodies including the Financial Audit Advisory Committee, Public Works Commission, schools, and MCI master plan working group. A vote on forming a formal financial solutions subcommittee, prompted partly by a composting feasibility study that passed town meeting over select board objections, was tabled to the June 4 meeting. Multiple members flagged the fiscal year 2024 audit's material weaknesses in financial controls as a top priority concern for the coming year.