FIRST TIME IN TOWN HISTORY--TOWN HAS HIGHEST BOND RATING FROM TWO TOP AGENCIES
Release Date: April 20, 2010
A FIRST FOR GREENBURGH: TOWN NOW HAS HIGHEST BOND RATINGS FROM BOTH MOODY’S AND STANDARD & POORS
For the first time in town history the town has received the highest bond ratings from the top two agencies: Moody’s and Standard & Poors. We just received good news:
Moodys has recalibrated The Town’s credit rating to Aaa. This is the highest credit rating issued by Moody’s. Moody’s is using a more uniform set of credit criteria for public (governments) and private (corporate) debt issues in establishing their credit ratings. In doing so, the Town’s credit rating has been “recalibrated” to Aaa. The Town now has a triple A rating from both Moodys and Standard & Poors. Both Moody’s & Standard & Poors have upgraded the towns bond ratings in recent years. Very few communities in the nation (probably less than 3%) have earned this distinction. Special thanks to Bart Talamani, Town Comptroller, Town Board members Sonja Brown, Diana Juettner, Kevin Morgan, Francis Sheehan, all our department heads, town Clerk Judith Beville, Receiver of Taxes David Dwinell for their efforts. Having the highest bond rating possible enables the town to save money by borrowing at reduced rates.
SHOULD PARKING AUTHORITY MEMBERS BE ELECTED?
The Town Board met with the attorneys for the Hartsdale Parking district about the proposed resolution calling for a change in the state law to eliminate property ownership requirements for members of the Hartsdale Parking district. This law reminds me of the pre-civil rights laws because they were designed to exclude some from participating in government. The lawyers asked that the Town Board postpone our vote until after the Parking district had a chance to meet. They are meeting tonight. One suggestion that I like: changing the law so that parking commissioners would be elected rather than appointed. This is done elsewhere. A resolution will be on next Wednesday’s Town Board agenda (April 28).