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.