The city of Boston recently sold Series A general obligation bonds via competitive sale to fund $170 million in new capital projects, Mayor Martin J. Walsh’s office said this week.

According to a statement from the mayor’s office, seven different firms bid on the series, which were offered at an interest rate of 2.88 percent.

"Taking advantage of our firm financial footing, the city was able to borrow at very favorable rates to invest in what counts the most when it comes to strong, vibrant neighborhoods – our schools, our libraries, and our open spaces," Walsh said in a statement.

Bond proceeds will help finance various capital projects throughout the city’s neighborhoods, including the Dudley Municipal Center.

The city budget includes several maintenance projects, such as targeted improvements for school facilities designated as turnaround schools, as well as the Eliot K-8 School, and Fenway High School. Other investments include significant expansion of children’s and teen spaces at the central Boston Public Library location, core technology projects, fire equipment and upgrades to parks and playgrounds.

Standard & Poor’s Rating Services raised its investment rating to AAA from AA+, while Moody’s affirmed their AAA rate.