Norfolk County Sells $1.2M School Bond at 2.203%

Norfolk County Treasurer Michael Bellotti accepted a winning bid Wednesday for a $1.2 million, 20-year general obligation bond to finance school renovations. Robert W. Baird & Co., Inc. won the competitive sale with an average interest rate of 2.203%.

Moody's Investors Service rated the bond issue 'Aa3,' citing the county's substantial tax base, above-average wealth levels, and low debt burden. Three underwriters submitted bids.