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Davenport: Prince George has room to borrow; $44M short‑term affordability under cautious scenario
Summary
Davenport Financial told the Prince George County Board of Supervisors on Sept. 23 that the county has financial capacity to borrow for capital projects without an immediate tax increase.
Davenport Financial told the Prince George County Board of Supervisors on Sept. 23 that the county has financial capacity to borrow for capital projects without an immediate tax increase, and staff should consider that capacity as the capital improvements plan (CIP) committee meets.
Mitch Bergoglio and Gracie Caplis of Davenport Financial presented a debt analysis showing the county's existing debt outstanding, upcoming declines in annual debt-service payments and a reserve balance in the debt service fund that can be deployed to accelerate projects. Bergoglio noted the county's credit ratings — "rated Aa2 by Moody's Investor Service and AA+ by Standard & Poor's" — and said that rating strength gives the county access to attractive market rates…
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