Chester County Commissioners Approve Bond Issue Ordinance

Triple-A ratings from the three top national agencies gave the Chester County Commissioners the financial support to approve an ordinance that authorized a bond issue that will refinance debt and fund the county’s five-year Capital Investment Program. The pricing and potential sale of bonds will take place on Tuesday. Should it go ahead, the deal size is estimated to be $91 million.

Projected savings on the refinancing portion of the issuance could be more than $3.5 million, according to Gordon Walker, Managing Director of Public Financial Management. The Triple-A ratings from Moody’s, Standard & Poor and Fitch reflect Chester County’s success in achieving and maintaining its strategic plan priority of Smart Financial Management, said Walker.

In his presentation to the commissioners last week, Walker noted that the reaffirmed Triple-A rating status meant that Chester County’s refinancing would be at rates lower than any other municipality in the State.

(Photo courtesy Chesco.org)