City Auditor Fiscal Ending 2020

Bond Rating



In the year ending June of 2023, the first bonds payment of $2,800,000 will be due.   We have been told that this project will be "revenue neutral".     In other words the taxes paid within the Polar Park DIF zone will cover tbe payments.\




What happens to our bond rating if we have to tap into the General Fund to cover these bonds payments???   


Answer:   Rating companies would not look to fondly upon this..





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