Bonds ~ 2016 Bond Issuance

Current Bond Rating Summary 

Debt Service and the Tax Rate

2016 Rating Agency Reports
In early August 2016, County representatives traveled to New York to present Spotsylvania County economic and financial information to Fitch, Moody’s and Standard & Poor’s. Select information from the presentation to the rating agencies is provided below:
 
Economic Development Highlights
Economic Trends
Financial Management
Plan of Finance

In mid-August 2016, the County’s credit rating was upgraded to AAA by Fitch and to Aa1 by Moody’s.  Standard & Poor's affirmed its AA+ rating of the County.  Below are the full rating reports from each agency:

Fitch
Moody's
Standard & Poor's

Click here to listen to Spotsylvania County Administrator Mark Taylor and Budget Manager Bonnie Jewell talk about Spotsylvania's AAA bond rating from Fitch and being upgraded from Moody's.


2016 General Obligation Bond Issuance
On July 12, 2016, the Board of Supervisors approved the issuance of up to $36.0 million in General Obligation (GO) bonds to finance the following projects:

• Replacement of the computer aided dispatch system for public safety;
• Replacement fire and EMS equipment;
• Fire Training Center improvements;
• Renovation of the animal shelter;
• Road improvements at Hickory Ridge/Rt. 1 and at Exit 118; and
• School technology, bus replacements, and school building capital maintenance.

Then, on August 17, the County sold $27.985 million in GO bonds at an “all in” interest rate of 1.64%.

Executive Summary from July 12, 2016 Board of Supervisors
Resolution Adopted by Board of Supervisors on July 12, 2016

 

Previous Years

Additional Links

Contact Information

Main: (540) 507-7590 
Fax: (540) 582-6304
E-Mail: budget@spotsylvania.va.us 

Mary Sorrell, Finance Director

Budget Staff
Bonnie Jewell, Budget Manager
Richard Zinky, Senior Financial Analyst
Holly Dove, Budget Analyst I
Barbara Verhaalen, Budget Analyst I

Mailing Address:                             
PO Box 215                                       
Spotsylvania, VA 22553

Physical Address:
 Directions 
8800 Courthouse Road
Spotsylvania, VA 22553