Select Board approves $12.57 million bond sale at 2.659 percent interest rate.
Wellesley Select Board approves $12.57 million municipal bond sale at competitive rate. CFO Rachel DeRoche reported the town secured nine bids and awarded bonds to Brownstone Investment Group, LLC for three capital projects: Warren Building HVAC, Western Road reconstruction, and RDF Administration
Select Board · Meeting of March 24, 2026
Wellesley Select Board approves $12.57 million municipal bond sale at competitive rate. CFO Rachel DeRoche reported the town secured nine bids and awarded bonds to Brownstone Investment Group, LLC for three capital projects: Warren Building HVAC, Western Road reconstruction, and RDF Administration Building. Moody's sustained Aaa rating and noted Wellesley's 15-16 percent reserves trail the national 20-25 percent benchmark, prompting board discussion of policy adjustment.
The Board also voted 4-1 to approve an all-alcohol license for Maugus Café with service hours starting 10 a.m., rejecting owner Kostas Saranteas' request for 8 a.m. service; Police Chief Scott Whittemore opposed early alcohol service on congested Washington Street. A $200,000 winter supplemental was approved unanimously, lifting the total FY26 ice-and-snow request to $1.1 million after 28 weather events and 3,440 tons of salt consumption.
In the full story:
- The complete report — 536 words
Source: the Select Board meeting of March 24, 2026, compiled from the official minutes.
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