2017 Bond Issuance

2017 Rating Agency Reports

In early July 2017, County representatives met with Fitch, Moody’s and Standard and Poor’s to present current economic and financial information pertaining to Spotsylvania County. Select information from the presentation to the rating agencies is provided below:

• Economic Development Highlights (PDF)
• Economic Trends (PDF)
• Financial Management (PDF)
• Plan of Finance (PDF)
  
  In late July, the County’s credit ratings were affirmed by Fitch (AAA), Moody’s (Aa1) and Standard and Poor's ( AA+). Below are the full rating reports from each agency:
• Fitch (PDF)
• Moody's (PDF)
• Standard and Poor's (PDF)

2017 General Obligation Bond Issuance

On June 27, 2017, the Board of Supervisors approved the issuance of up to $30.0 million in General Obligation (GO) bonds to finance the following projects:

• Replacement fire equipment;
• Bunkroom addition for Salem Church station;
• Renovation of Courtland High School; and
• School technology, bus replacements, and school building capital maintenance.

Then, on August 2, the County sold $26.155 million in GO bonds at an “all in” interest rate of 2.31%.

• Executive Summary from June 27, 2017 Board of Supervisors (PDF)
• Resolution Adopted by Board of Supervisors on June 27, 2017 (PDF)