According to Moody's, the assignment of their highest-quality rating reflects the county's sizeable tax base and diverse economic profile, strong financial performance in recent years and large reserves, and manageable debt levels.
The $16.6 million in general obligation bond proceeds represent the remainder of the $100 million Parks, Recreation and Green Space Bond approved by voters in 2008. The money will be used to fund park and green space projects.
The Water and Sewer bonds will refund bonds from two series of outstanding debt for an expected net present value savings of just under $2 million, with no extension of maturity. This savings, as a percentage of refunded bonds, is 6.91% of refunded principal.
"Forsyth County's financial condition remains strong, as evidenced by receipt of the highest-quality rating by Moody's on these bond issues," Commission Chairman R.J. (Pete) Amos said. "The county's sound financial policies, conservative budgeting, and talented staff and legal team all play a role in our financial stability, and in achieving this rating."
http://accesswdun.com/article/2013/4/261060