Marlborough earns first AAA bond rating
Photo | Matt Wright
Marlborough Mayor Arthur Vigeant
Marlborough has earned what the city says is its first AAA bond rating from the Wall Street agency Standard & Poor's.
The designation, the highest a municipality can receive, allows the city to borrow money at the lowest commercial interest rates available. Marlborough, which announced the designation last week, said only a handful of Massachusetts cities and towns have AAA ratings.
Mayor Arthur Vigeant said the bond rating is the result of nearly three decades of hard work between the mayor and City Council.
Marlborough has a $163-million budget and a five-year capital improvement plan calling for $142 million in spending for 57 projects. Potential improvement projects include $23 million for a new public library, $20 million for pavement reconstruction, and $6 million to reconstruct Donald Lynch Boulevard.
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