STAMFORD, Conn. — The City of Stamford sold $40 million in general obligation bonds today at an interest rate of 1.43 percent — the lowest recorded interest rate in the City’s history. Lower interest rates provide lower costs for taxpayers in the municipality.

“Stamford has made a number of difficult financial decisions this fiscal year, but our success on the bond market is a silver lining,” said Director of Administration Sandy Dennies. “Residents and business owners know Stamford remains fiscally reliable even during difficult times.”

This 1.43 percent interest rate is lower than other AAA bond sales in Connecticut this year, including Fairfield, Westport, Wilton, Ridgefield, and Bethel. Stamford’s low interest rate is due to responsible financial management and a strong fiscal environment, reflected in the City’s Triple AAA bond rating reaffirmed by Fitch and Standard & Poor’s earlier this month.

As part of the $40 million general obligation bonds, the City received $4.4 million in bond premiums that will be used to fund capital projects and mitigate further bonding.

Municipal bonds are sold to financial institutions to fund capital improvements across the city.

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