AAA Bond Rating Saving Cash

By Bill O'Neil

More evidence San Antonio's AAA bond rating is paying off. 

That's just what city leaders see--after recently selling $233-million in bonds at an interest rate of under 3%. City Manager Sheryl Sculley said that means a big imapct. 

"Lower total costs for streets, drainage, libraries, parks, and other projects the community wants" Sculley told 550 KTSA News, adding the impact could be felt directly by you, with more capacity for projects.    

"We know that the number one issue that we heare from residents is that they want more street maintenance, more sidewalks, more drainage improvement" Sculley said. 

Officals said theyw ere also able to recently refinance more than $72 million in existing bonds at a rate of less than 2%--resuliting in a net savings of more than $6.5 million.   

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Locations : San Antonio
People : Sheryl Sculley
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