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