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Bedford Keeps AAA Bond Rating

The Bedford Town Board.
The Bedford Town Board. Photo Credit: Tom Auchterlonie

BEDFORD HILLS, N.Y. -- The town of Bedford will keep its AAA bond rating due to a reaffirmation from S&P Global Ratings, the town announced in its weekly email newsletter.

"Fewer than 3% of municipalities are awarded this coveted rating which has a direct impact on taxpayers by providing a lower rate of interest than those municipalities whose ratings are not as high," the town's statement noted. "We are delighted that we received on our $10 million bond issue to finance 2016 and 2017 Capital Projects a 3.078% interest rate, well below the 3.5% which Comptroller Abe Zambrano used for budgeting purposes."

Included in the capital projects is a comprehensive renovation and addition to the police station.

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