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Summary: Sandwich Twn, MA; Tax Secured, General Obligation Jan 03
Standard & Poors, January 2003
The 'AA-' rating on the Town of Sandwich, Mass.' GO bonds reflects: Strong assessed valuation (AV) growth resulting from both new development and appreciation, allowing a lowering of the tax rate; Access to a diverse regional economic base in southeastern Massachusetts and the greater Boston area; Still-favorable, but rising, unemployment; Above-average income levels; and Historically strong financial performance and position. These strengths are tempered by growth pressures on capital needs for public education. The bonds are secured by the town's full faith and credit pledge. Proceeds will provide financing for land acquisition. Although backed by the town's GO pledge, debt service payments are expected to come from the 3% property tax surcharge levied on all taxable property in the town...
Companies mentioned in this report are: Sandwich Twn
Action: New Rating
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