The NH Municipal Bond Bank's July tax-exempt bond sale was held on July 10, 2024. NHMBB received 10 very close and competitive bids and awarded the bid to JP Morgan Securities. $127,370,000 in bonds were sold to a pool of 25 communities to finance 55 projects that include conservation land, a library, road and bridge repair, a beach bathhouse, a pump station, two public safety centers, water and sewer projects, town vehicles, school and town building renovations, road reconstruction and other various capital improvement projects. The true interest rate on these loans were 3.25% on a 5-year loan, 3.19% on a 10-year loan, 3.46% on a 15-year loan, and 3.92% on a 25-year loan. If you are interested in reviewing the details of this bond issue, you can find the Final Official Statement for the 2024 Series C bond issue here.

On July 17, 2024, the Bond Bank also sold $3,099,030 in taxable loans to fund school projects for the City of Rochester. The 10-year TIC on this taxable loan was 5.09%. We received 4 bids with the winning bid being award to Fifth Third Securities, Inc. If you are interested in reviewing the details of this bond issue, you can find the Final Official Statement for the 2024 Series D bond issue here.

If you have a bond warrant article that you plan to include for FY25, we strongly suggest that you contact your bond counsel to be sure you are following all the necessary requirements and deadlines. The NH Municipal Bond Bank's next pooled issue will be held on January 7, 2025. If you would like to be included in this pooled bond issue, please call the Bond Bank to request an application. The application deadline is October 25, 2024

Planning a project for 2025? We can provide you with estimated payment schedules to assist you with planning your next project. Please call us at (603) 271-2595 or e-mail [email protected]. If you have any questions, need additional information, or would like to schedule a meeting you can contact me by phone at (603) 271-6639 or e-mail at [email protected].

Stay cool and enjoy your summer!

Tammy J. St. Gelais

Executive Director

July 2024