General Obligation Bonds

Major Capital Projects are financed through the sale of bonds. The bonds may be structured over ten to twenty years with level debt payments and a rapid payback period. On average, the Town maintains a 70% or greater retirement rate on its outstanding debt over a ten year period. Generally, the projects are initiated through the Capital Improvement Program and administered through the Capital Projects Fund. Bonding is authorized on the approval of Referendum by the voters of the Town.

Debt, through the issuance of general obligation bonds, is issued for the Town and Education, for projects initiated through the Town’s Capital Improvement Program and approved at referendum by the voters of the Town. The Town utilizes Capital Improvement Program Criteria  established by the Town Council upon recommendation of the Board of Finance.  Prior to recommending any projects for inclusion in the Capital Improvement Program (CIP), the Town carefully reviews proposed projects in accordance with the CIP criteria including the status of previously approved projects, information available for new projects being proposed as well as a detailed financial analysis of the projects and the impact financing has on the Town's budget and financial status. 

Purchase of Town Issued Bonds

To purchase a general obligation bond (municipal bond) issued by the Town of Glastonbury contact your investment advisor.

Current Bond Ratings

Standard & Poor’s Bond Rating         AAA
Moody’s Bond Rating                       Aaa

Official Statements


MAY 2008

MAY 2007

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