The historic AAA stable bond ratings Frederick County Government received last week from the three major financial rating agencies have already provided significant savings for taxpayers, announced County Executive Jan Gardner. She signed documents yesterday from a live bond sale that had a very low interest rate and resulted in estimated debt service savings to the General Fund on tax exempt bonds of over $5 million over the 20-year life of the bonds.
“I am so excited that our financial achievements have already had a very positive impact on Frederick County,” said Executive Gardner. “The savings give us enough money to build another fire station or branch library or to improve a road or bridge. I can’t say thank you enough all who were involved in achieving these historic ratings, from the County Council to our Directors and employees, to ‘Team Frederick’ who visited New York recently to share about all the good things happening here. The agencies were convinced of our excellent financial management and expressed their confidence in us, including Moody’s, which upgraded our rating.”