The rating on Watertown, Mass.' BANs reflects: Demonstrated market access through prior note and bond sales; Participation in the deep and diverse greater Boston economy; A trend of strong tax base growth; Strong financial performance with the added security of significant reserves; and A low net debt burden. The BANs are secured by the town's full faith and credit pledge. Watertown, population 32,986, is a fully developed community located among Boston's inner-ring cities. The town occupies just 4.16 square miles, but the fiscal 2001 assessed value (AV) is $3 billion, up from $2 billion in 1997, just five years ago. Fiscal 2001 AV is 75% residential and 25% commercial/industrial, representing a 3% growth in commercial/industrial in the past three years.
