Arlington Select Board Approves $10.18 Million in Bond Sales at Sub-3-Percent Rates

ARLINGTON -- April 28, 2026, Arlington Select Board ratifies $10.18 million in bond sales at the town's lowest interest rates in at least three years. The board voted unanimously Monday to approve a $7 million bond anticipation note won by Academy Securities at a net interest cost of 2.466 percent and a $3,180,000 general obligation bond won by Brownstone Investment Group at 2.824 percent, compared with a 3.539 percent rate on an $11.35 million bond issued in February 2025 and a 3.69 percent rate on an $18 million bond in November 2023. Town Treasurer Lynn Gallagher credited S&P Global's AAA long-term and SP-1+ short-term ratings, both the highest available, secured after an unusually rigorous April 1 ratings call. Board member Lenora Mahan called the call "the first ratings call I've heard where it really went into depth," thanking Town Manager James Feeney, Deputy Town Manager of Finance Julie Wayman, and the comptroller for their preparation. The board also approved proclamations for ALS Awareness Month and in memory of longtime volunteer Robert "Bob" Redosha, who died March 23, 2026.