Last week, The South Shore Press reported the $188,735,000 in tax‑exempt bonds recently sold through the office of Suffolk Comptroller John Kennedy. Here are some more details on how the money will be spent.
The sale yielded “impressive demand,” allowing the county to secure its lowest borrowing rate in several years. The winning bid came from Jefferies LLC at 2.96%, amid $1.5 billion in offers, demonstrating strong investor confidence in Suffolk County’s fiscal management and long-term credit stability.
“This was a highly successful sale with great results for our taxpayers,” Kennedy said. “Strong investor confidence in the county’s credit and fiscal management helped us secure these favorable financing terms, which translate directly into savings for residents over the life of the bonds.”
Proceeds will support critical infrastructure and community‑improvement efforts. Roughly $40 million is earmarked for law enforcement and emergency services, including $10 million for replacement TASERs, $12 million for a replacement police helicopter, and $5 million for Fire Rescue upgrades. About $10 million will go toward culture and recreation, strengthening parks, historic buildings, the ballpark, and the Cedar Island Lighthouse, ensuring public spaces remain safe, accessible, and well-maintained.
Additionally, approximately $25 million will fund water‑quality and environmental improvements, including upgrades across county sewer districts, rehabilitation of Guggenheim Lake (Babylon/Islip), and remediation of brownfield sites. An estimated $4.5 million is set aside for education‑related projects, while smaller amounts will support community initiatives such as park restoration and road improvements in West Babylon and Huntington, directly enhancing the quality of life for local residents.
Kennedy noted that the bond sale reflects Suffolk County’s stronger financial standing, including recent rating upgrades. The launch of the county’s Investor Engagement Webpage in 2024 also helped boost transparency and investor outreach. “Every taxpayer dollar counts,” he added.
The county plans to return to the market in December with a $400 million tax‑anticipation note.