The City’s recent “Triple A” credit rating reaccreditation from Moody’s and Standard & Poor’s credit rating agencies has helped it once again receive the lowest rates possible for a recent sale of General Obligation Bonds and Combination Tax and Revenue Certificates of Obligation.
Earlier this week the City went to the marketplace to sell $45 million in funds for projects approved by voters in the 2021 Bond Program, as well as short- and long-term capital expenses, including fire and solid waste equipment and water and sewer infrastructure. The City Council approved the sale at its regular meeting Monday evening, locking in rates ranging from 3.31-3.37 percent.
Richardson is one of only 11 cities in Texas to currently hold Triple A rating status from both Moody’s and S&P ratings agencies.
