MAY 19, 1997
Woodinville receives A+ bond rating
The City of Woodinville recently received an A+ bond rating from Standard & Poor's Corporation of New York City. Standard & Poor's cited the diverse employment base of Woodinville residents, high per capita property wealth, and the solid financial performance of the city.
Other economic strengths cited by Standard and Poor's include an expanding local economy based in retail, tourism, and light manufacturing, along with easy access to employment centers in Redmond, Kirkland, Bellevue, and Seattle, and the city's sound financial operations.
"The city produced current fund surpluses and fund balance increases in each of its initial four years of operation," said Standard & Poor's. The rating was received in conjunction with the sale of $1,675,000 in bonds May 12 to fund the acquisition of land. The bonds, which will mature over a 20 year period, were sold to Seattle-Northwest Securities at an average interest cost of 5.54%.
For further information, contact Jim Katica, City Clerk-Treasurer, at 489-2700, ext. 226.