News Flash

News & Announcements

Posted on: September 5, 2018

Moody’s Raises Ratings for General Obligation Bonds

Town of Erie Logo

Moody’s Investor’s Service announced recently that it has upgraded the Town of Erie’s general obligation bond rating. The bonds issued by the general fund were assigned a new rating of “Aa1”, reflecting an upgrade in credit quality from the previous rating of “Aa2”, Moody’s second highest rating.

Moody’s identified several credit strengths which factored into their decision to upgrade the bond rating, including solid financial operations with ample reserve levels; rapidly growing population and expanding tax base outside of Denver metropolitan area; and low debt and pension burdens.

According to Moody’s report, Erie’s fiscal management is expected to continue with support from growing revenue streams, including sales tax and developers fees as the town continues to expand. Moody’s also commented positively on the ability to manage the growth with our pay-as-you-go capital plan and the maintenance of substantial reserves levels, which allows financial flexibility.

The Town has approximately $16.2 million of outstanding general obligation debt used to finance construction of the Erie Community Center and the Public Safety Building. This debt is repaid through a property tax mill levy (4.512 mills in 2018).

View the complete credit opinion here.

Facebook Twitter Google Plus Email

Other News in News & Announcements

silhouette-coyote-howling-moon-clipart

Fall Coyote Update & Reminders

Posted on: September 17, 2018
Flush for the Future

Flush for the Future

Posted on: September 14, 2018
PD_Badge_Thumbnail

Emergency Preparedness Class

Posted on: September 12, 2018
Road

2018 Street Maintenance Project

Posted on: August 27, 2018
Town of Erie Logo

Erie Parkway Updates

Posted on: August 6, 2018
PD_Badge_Thumbnail

Golf Car Safety Reminders

Posted on: June 12, 2018
2016FarmersMarket_YouTube

Erie Farmers Market

Posted on: May 11, 2018
Waste Connections Logo

Waste Connections Agreement Finalized

Posted on: March 23, 2018

Explore the Town’s 2018 "Open Budget”

Posted on: December 20, 2017
Best_Place_to_Raise_a _Family_Logo

Thank you, Erie!

Posted on: November 22, 2017