Select Board Approves $4.8 Million Bond Sale

Board of Selectmen · Meeting of June 17, 2026

Saugus Select Board locks in a below-market rate on a $4.8 million bond sale and moves to raise two license fees. The board voted 5-0 to approve $4,775,000 in general obligation bonds at a 3.37 percent net interest cost, below the roughly 4 percent rate officials had budgeted, after six institutions bid and Standard & Poor's affirmed the town's AA+ rating. Treasurer Wendy said the rating reflected "forward-looking management practices" and "aggressive pension funding." Proceeds fund fire apparatus, police cruisers, a sewer jetter truck, dispatch upgrades and water booster stations.

The board also agreed to raise the S2 permit fee to $250, pending a July hearing, and set a $300 fee for liquor license transfers, which previously carried no charge. Separately, the board unanimously approved a two-day liquor license for the Holy Ghost Festival, set for July 4-5 at Lynn Fells Parkway, and opened the meeting with a citation marking Prince Pizzeria's 65th anniversary.

In the full story:

• Prince Pizzeria 65th Anniversary Citation
• $4.775 Million Bond Sale
• Holy Ghost Festival Liquor License Public Hearing
• License Fee Review
• Town Manager's Report and Approval of Minutes
• Member Updates: Traffic, Infrastructure and Community Events
• Who Was There
• Organizations And Documents Referenced
• The complete report: 2,670 words

Source: the Board of Selectmen meeting of June 17, 2026, reported from the official video recording and transcript.

Checked against the record: before publication this article was automatically compared with the meeting transcript.