Cheshire News http://www.cheshirect.org 2019-02-21T17:54:43 umbraco v4 All the latest news from the city of cheshire en Top Credit Ratings, Successful Bond Sale http://www.cheshirect.org/news/top-credit-ratings-successful-bond-sale/ 2019-02-21T17:54:43 Arnett Talbot http://www.cheshirect.org/news/top-credit-ratings-successful-bond-sale/ TOWN OF CHESHIRE

PRESS RELEASE

 

            Great Results for Cheshire Bond Sale on Heels of Strong Rating Reports

 

CHESHIRE, Conn. – Town officials announced positive results from Wednesday’s $14.5 million bond sale, which yielded competitive interest rates on the strength of solid reviews from S&P Global and Fitch Ratings, two of the three major Wall Street Rating Agency firms.

 

“It is great to see these results and the fact that our bonds were in such a high demand,” said Town Manager Sean Kimball, “We are very pleased with these low rates as they keep our debt service costs, and the burden on the taxpayers, as low as possible.”

 

The Town received a total of twelve bids on the Bonds, with BNY Mellon submitting the winning bid.  BNY Mellon beat out firms such as Bank of America Merrill Lynch, Citi, Janney Montgomery Scott, and Morgan Stanley, among many others.

 

The interest rates bid on the bonds ranged from a winning bid of 2.71% to a high bid of 2.91%. It was a tightly contested competitive sale with bids from the top seven firms within a range of only 8 basis points (0.08%).  The bonds will provide the financing for the Town’s various school, general purpose and sewer projects.

 

“The sale results were driven by the Town’s exceptional credit ratings and prudent long term financial management.  Many issuers would be happy with three or four bids; getting twelve is about as good as it gets,” said Matthew Spoerndle, senior managing director of Phoenix Advisors and Cheshire’s municipal advisor. “The rating agencies continue to recognize the work town officials have done to keep Cheshire’s fiscal health strong over the years.”

 

Both S&P and Fitch affirmed Cheshire’s “AAA” ratings, which is the highest rating available.  Within the report, S&P referenced the Town’s “very strong economy” and “very strong liquidity and strong budgetary performance and flexibility” and noted the Town’s low unemployment rate and healthy building permit growth.  Fitch also highlighted the Town’s long term liabilities (debt & pensions) as being “low” with moderate future borrowing plans based on its capital plan, which is favorably viewed.

 

Finally, S&P mentioned that they view management as “strong, with good financial policies” under their Financial Management Assessment while Fitch touted management’s ability to address recent fiscal strains as a result of the state economic downturn through cost controls, and other measures.

 

The settlement date for the sale is March 6, 2019, after which the funds become available to the Town.

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TOWN OF CHESHIRE

PRESS RELEASE

 

            Great Results for Cheshire Bond Sale on Heels of Strong Rating Reports

 

CHESHIRE, Conn. – Town officials announced positive results from Wednesday’s $14.5 million bond sale, which yielded competitive interest rates on the strength of solid reviews from S&P Global and Fitch Ratings, two of the three major Wall Street Rating Agency firms.

 

“It is great to see these results and the fact that our bonds were in such a high demand,” said Town Manager Sean Kimball, “We are very pleased with these low rates as they keep our debt service costs, and the burden on the taxpayers, as low as possible.”

 

The Town received a total of twelve bids on the Bonds, with BNY Mellon submitting the winning bid.  BNY Mellon beat out firms such as Bank of America Merrill Lynch, Citi, Janney Montgomery Scott, and Morgan Stanley, among many others.

 

The interest rates bid on the bonds ranged from a winning bid of 2.71% to a high bid of 2.91%. It was a tightly contested competitive sale with bids from the top seven firms within a range of only 8 basis points (0.08%).  The bonds will provide the financing for the Town’s various school, general purpose and sewer projects.

 

“The sale results were driven by the Town’s exceptional credit ratings and prudent long term financial management.  Many issuers would be happy with three or four bids; getting twelve is about as good as it gets,” said Matthew Spoerndle, senior managing director of Phoenix Advisors and Cheshire’s municipal advisor. “The rating agencies continue to recognize the work town officials have done to keep Cheshire’s fiscal health strong over the years.”

 

Both S&P and Fitch affirmed Cheshire’s “AAA” ratings, which is the highest rating available.  Within the report, S&P referenced the Town’s “very strong economy” and “very strong liquidity and strong budgetary performance and flexibility” and noted the Town’s low unemployment rate and healthy building permit growth.  Fitch also highlighted the Town’s long term liabilities (debt & pensions) as being “low” with moderate future borrowing plans based on its capital plan, which is favorably viewed.

 

Finally, S&P mentioned that they view management as “strong, with good financial policies” under their Financial Management Assessment while Fitch touted management’s ability to address recent fiscal strains as a result of the state economic downturn through cost controls, and other measures.

 

The settlement date for the sale is March 6, 2019, after which the funds become available to the Town.

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17-18 Comprehensive Annual Financial Report http://www.cheshirect.org/news/17-18-comprehensive-annual-financial-report/ 2019-01-31T16:49:13 Arnett Talbot http://www.cheshirect.org/news/17-18-comprehensive-annual-financial-report/ The Town of Cheshire's Fiscal Year 17-18 Comprehensive Annual Financial Report (audit) is available here.]]> The Town of Cheshire's Fiscal Year 17-18 Comprehensive Annual Financial Report (audit) is available here.]]> 2018 Grand List http://www.cheshirect.org/news/2018-grand-list/ 2019-01-23T11:58:30 Melanie Roberts http://www.cheshirect.org/news/2018-grand-list/  The 2018 Grand List has been announced.  Click here for more information.

The net 2018 Grand List is $2,801,801,050.  This represents a 0.83% increase from the 2017 Grand List.

 

 

Requests for assessment appeals must be submitted on the prescribed form by February 20, 2019.

Click here for information on the assessment appeals process.

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 The 2018 Grand List has been announced.  Click here for more information.

The net 2018 Grand List is $2,801,801,050.  This represents a 0.83% increase from the 2017 Grand List.

 

 

Requests for assessment appeals must be submitted on the prescribed form by February 20, 2019.

Click here for information on the assessment appeals process.

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Cheshire Police Lip Sync Challenge http://www.cheshirect.org/news/cheshire-police-lip-sync-challenge/ 2018-11-15T10:20:03 Arnett Talbot http://www.cheshirect.org/news/cheshire-police-lip-sync-challenge/ Lip Sync Challenge met!

 

Enjoy our own Cheshire Police Department's video, featuring the whole wonderful Cheshire Community

HERE   

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Lip Sync Challenge met!

 

Enjoy our own Cheshire Police Department's video, featuring the whole wonderful Cheshire Community

HERE   

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Upcoming Recycling Events http://www.cheshirect.org/news/upcoming-recycling-events/ 2018-10-01T13:14:46 Arnett Talbot http://www.cheshirect.org/news/upcoming-recycling-events/ FREE ELECTRONICS RECYCLING EVENT

Saturday, April 13, 2019, 9 AM - 1 PM, DARCEY SCHOOL (1686 WATERBURY RD.)

The Town of Cheshire is sponsoring a free electronics recycling drop off event. 

ACCEPTED: computer/laptop/printer/keyboard/mouse/monitor; TV/VCR/DVD/remote; batteries; phones/fax machine; copiers; scanners; iPods/PDAs; stereo equipment; telephone/cellphone; camera; tablet/eBook; game console/controller; small appliances; lightbulbs;cassette tapes/VCR tapes

NOT ACCEPTED: smoke detectors; car batteries; appliances containing freon (AC units, refrigerators, dehumidifiers)

Note:  Some scrap metal collectors have free drop-off of appliances containing freon. Contact them for their policies.

 

FREE MATTRESS RECYCLING EVENT

Saturday, April 6, 2019, 9 AM - 1 PM, TOWN HALL, 84 SOUTH MAIN ST.

The Town of Cheshire is sponsoring a free mattress recycling drop off event. 

ACCEPTED: mattresses (crib/twin/full/queen/king); box springs

NOT ACCEPTED: mattresses from futons/sofa beds/water beds; mattresses infested with bed bugs; wet, damaged, excessively soiled mattresses; sleeping bags; mattress pads/toppers

 

HAZARDOUS WASTE RECYCLING EVENTS

April 27, 2019 at Woodbury Middle School, 67 Washington Avenue, Woodbury (click here for more info)

July 13, 2019 at Wolcott Recycling Center, 48 Todd Road, Wolcott

October 5, 2019 at Ansonia Public Works Deptartment, 1 North Division Street, Ansonia

 

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FREE ELECTRONICS RECYCLING EVENT

Saturday, April 13, 2019, 9 AM - 1 PM, DARCEY SCHOOL (1686 WATERBURY RD.)

The Town of Cheshire is sponsoring a free electronics recycling drop off event. 

ACCEPTED: computer/laptop/printer/keyboard/mouse/monitor; TV/VCR/DVD/remote; batteries; phones/fax machine; copiers; scanners; iPods/PDAs; stereo equipment; telephone/cellphone; camera; tablet/eBook; game console/controller; small appliances; lightbulbs;cassette tapes/VCR tapes

NOT ACCEPTED: smoke detectors; car batteries; appliances containing freon (AC units, refrigerators, dehumidifiers)

Note:  Some scrap metal collectors have free drop-off of appliances containing freon. Contact them for their policies.

 

FREE MATTRESS RECYCLING EVENT

Saturday, April 6, 2019, 9 AM - 1 PM, TOWN HALL, 84 SOUTH MAIN ST.

The Town of Cheshire is sponsoring a free mattress recycling drop off event. 

ACCEPTED: mattresses (crib/twin/full/queen/king); box springs

NOT ACCEPTED: mattresses from futons/sofa beds/water beds; mattresses infested with bed bugs; wet, damaged, excessively soiled mattresses; sleeping bags; mattress pads/toppers

 

HAZARDOUS WASTE RECYCLING EVENTS

April 27, 2019 at Woodbury Middle School, 67 Washington Avenue, Woodbury (click here for more info)

July 13, 2019 at Wolcott Recycling Center, 48 Todd Road, Wolcott

October 5, 2019 at Ansonia Public Works Deptartment, 1 North Division Street, Ansonia

 

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