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Allegany County Gets Improved Bond Rating

May 5th, 2014 by WCBC Radio

The Allegany County’s preliminary budget presented during Thursday’s public is balanced and includes no tax or fee increases. In fact, once again the county commissioners plan to implement a slight decrease to the property tax rate.  As for the county’s bond rating, the firm Standard & Poors has improved the county’s rating from A+ to AA, which will mean the county will be able to pay lower interest rates on bonds issued to finance capital projects.  County Finance Director Jason Bennett said the rate change will save the county real dollars, noting that the last rate change saved the county hundreds of thousands in debt refinancing. Bennett attributed the county’s fiscally conservative approach to operations as the key to improvement…





 

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