Moody’s Investors Service has assigned a Aaa rating to Linn County’s $5.1 million general obligation (GO) Water and Land Legacy Bonds, Series 2021A, reflecting the county’s “continued financial stability and commitment to be responsible stewards of public dollars.” the county stated in a release.
Moody’s also maintained a Aaa rating on Linn County’s previously issued general obligation unlimited tax debt. The Aaa bond rating is the highest credit rating possible from Moody’s and translates into substantial savings for taxpayers through lower interest rates.
The outlook on the GO rating is stable, reflecting Moody’s expectation that the county’s credit quality will remain strong given the health of the regional economy and Linn County’s sound financial position and is supported by the county’s large and growing economic base that includes the metropolitan area. The rating also reflects Linn County’s healthy financial position with a high degree of legal revenue raising flexibility and liquidity, and moderate debt and pension burdens, according to Moody’s statement.
“We work diligently each year across county departments to make responsible budgetary decisions and demonstrate accountability to taxpayers. This rating is a positive sign of Linn County’s financial stability and affirms the success of our efforts,” Linn County Finance Director Dawn Jindrich said in the release.
In November 2016, Linn County residents passed the $40 million Linn County Water and Land Legacy Bond project by nearly 74%. The multi-year bond project will help protect water quality and natural areas and fund improvements to Linn County parks and trails. More information about the project is available on Linn County’s website.