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Town manager: Moody’s reaffirms Farmington’s top bond rating; council informed of $22.5M bond issue
Summary
Town Manager Kathy reported Moody’s reaffirmed Farmington’s highest municipal bond rating and summarized results of a $22.5 million bond sale; she also announced upcoming events and project progress for town facilities.
At the Nov. 10 meeting, Town Manager Kathy reported that Moody’s Investors Service reaffirmed the Town of Farmington’s municipal bond rating at the highest available level and summarized the recent $22,500,000 bond issue and sale results.
Kathy said the town was pleased with the sale results and thanked staff for their work on debt management. She also updated the council on ongoing facility projects, saying work at the Tinytown Barn (referred to as "Tinty Barn" in staff notes) is progressing, and reminded members of a reception on Dec. 9 from 6–7 p.m. honoring outgoing council members.
The town manager’s report was accepted by the council by voice vote during the meeting; no additional policy directives or funding authorizations were taken at that time.
