Cityís good bond rating spans administrations
Mayor Don Kyle and council members can do a bit of bragging this week after getting a favorable bond rating that allows the city to pay 4.35 percent interest on the $16.2 million it is borrowing for capital projects.
That rate, according to the bond agent, is a good deal for the city and is based on Decaturís level of reserve funds and sound fiscal management.
Thereís always a bit of public relations stroking that goes on when a municipality goes to the bond market. In this case it was Johnny Dill of Joe Jolly and Co., the cityís long-time financial advisor, telling Decatur residents their elected leaders are doing a good job.
Itís good to pat your client on the back for doing good things.
The city is, indeed, in good financial shape in part because of the current administration. The solid underpinning of the cityís financial health goes back further and is also the result of an accumulation of decisions made during previous administrations, including the one on the controversial 1-cent sales tax enacted in 2001.