Bond/Debt Information

Bonds – 2022 Bond Issuance

Current Bond Rating Summary

Debt Service and the Tax Rate

2022 Rating Agency Reports - General
In July 2022, County representatives met with Fitch, Moody’s and Standard & Poor’s to present current economic and financial information pertaining to Spotsylvania County. The presentation is available here.  

The County’s strong credit ratings were affirmed by each of the three agencies – AAA from Fitch and Standard & Poor’s, and Aa1 from Moody’s.  Below are the full rating reports from each agency:

Fitch
Standard & Poor’s
Moody’s

2022 General Obligation Bond Issuance
On June 14, 2022, the Board of Supervisors approved the issuance of up to $37.5 million in General Obligation (GO) bonds to finance the following projects:

  • Fire equipment replacement;
  • Replacement of Co. 3 (Partlow);
  • Rural road safety improvements;
  • Hood Drive improvements at VA clinic entrance;
  • Rt. 1 improvements at VA clinic entrance; and
  • School technology, bus replacements, and school building capital maintenance.

Then, on August 10, the County sold $31.05 million in GO bonds at an “all in” true interest cost of 2.787%.    

Executive Summary from June 14, 2022 Board of Supervisors Meeting
Resolution Adopted by Board of Supervisors on June 22, 2021