- Details
- Category: Past Issues
WOODSTOCK --- The Town of Woodstock was able to realize $117,031.25 in savings by refunding its 2000 bonds at the same time as issuing new debt in September of 2010, according to town Treasurer Barbara Rich. The boards of Selectmen and Finance, along with the treasurer and the town’s Financial Adviser, Christine Caruolo of Webster Bank, took advantage of the lower interest rates and reduced issuance costs by combining two transactions.
The original 20-year bonds were issued in 2000 to renovate the Woodstock Elementary School and carried coupon rates of 5 percent to 25 percent, They will now be paid off at rates ranging from 2.0 percent to 3.0 percent over the remaining 10 years. The new bonds issued to complete the remediation and renovation of the Woodstock Highway Facility Project will be paid off at rates of 2.0 percent to 4 percent over the next 20 years.