Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City financial adviser outlines debt capacity, warns capital plan could push debt past Moody’s threshold by 2029
Summary
Bill Lindsey, the city’s financial adviser for debt issuance, reviewed Moody’s and S&P scorecards, said issued debt totals $459 million, authorized‑but‑unissued debt is about $114 million, and projected that, under conservative borrowing assumptions, the city could exceed a $650 million debt threshold beginning around 2029.
Bill Lindsey, the city’s financial adviser for debt issuance, told the Board of Estimate and Taxation on May 5 that Norwalk’s current issued general‑obligation debt was approximately $459 million and that roughly $114 million remained authorized but unissued.
Lindsey reviewed Moody’s and Standard & Poor’s scorecard methodologies, emphasizing that ratings weigh multiple factors — economy, financial performance, institutional framework, pensions and OPEB — and that direct debt…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
