The City of Ottawa is pleased to announce that late last week it received word that Moody’s Investors Service has evaluated the City of Ottawa at an A1 bond rating.
Ottawa City staff, along with City Commissioner Blake Jorgensen and City Finance Advisor David Arteberry with George Baum & Company, recently made oral presentations to a representative with Moody’s Services to solicit a municipal rating for bonds being issued for the new industrial park and the municipal airport. This action was taken in preparation of borrowing $5,000,000 for the extension of Water, Sewer and Electric infrastructure to Rock Creek Development Park and $560,000 for the Ottawa Municipal Airport to pay off temporary notes, which were issued for the construction of T-Hangars at the local airport.
During the phone conference with a Moody's agent last week, those involved presented information about the community; including its size, location, demographics, form of government and recent retail growth. The local economy was discussed, along with information related to recent developments and current local industry. The city also provided its budget, the most recent audits and local tax rates.