Moody’s Investors Service has assigned a Triple A (Aaa) rating to Sarpy County’s planned $60 million Limited Tax Highway Allocation Fund Pledge Bonds, Series 2022.
This upcoming bond issue was approved by the Sarpy County Board of Commissioners earlier this month and the proceeds will be used to improve Sarpy County’s vast road network. Debt service on this bond issue will be funded from state highway allocations provided to the county.
The Aaa designation allows the county to qualify for the lowest possible interest rates when issuing bonds.
“This is outstanding news for our residents,” said Sarpy County Board Chairman Don Kelly. “Having this highest bond rating will result in a direct savings to the taxpayer with our upcoming bond sale and is a validation of our fiscal management and disciplined spending practices.”
Moody’s noted that Sarpy County’s growing tax base, along with the county’s strong financial reserves and low pension burden, helped balance the debt burden and contributed to the Aaa rating.
In the official Credit Opinion dated April 12, Moody’s reported that Sarpy County’s “favorable economic trends will continue to drive residential and commercial development to support both tax base and revenue growth. The county has strong and stable reserves and maintains some revenue raising flexibility.”