Tompkins County Benefitting From Top Notch Bond Rating
Monday, July 23, 2012
Tompkins County Benefitting From Top Notch Bond Rating
Tompkins County taxpayers are reaping the benefits of the county’s solid financial footing, county leaders say they’ve received some of the lowest interest rates ever seen when they borrowed money for some capital improvements recently. The inertest rates are reflective of the county’s strong financial position.
Tompkins Finance Director David Squires says the county sold $3.2 million in bonds recently for an interest rate of 2.3%, that’s the lowest rate in 20 years.
Tompkins County has a AA1 Bond which is due to stable tax base.
The bond issue supports three capital projects: renovations to the Human Services Annex and Recycling and Solid Waste Center, and interior renovations to the Cooperative Extension facility on Willow Avenue.
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