Page 307 - City of Watauga FY22 Adopted Budget
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DEBT SERVICE
In recent years, S&P Global Ratings assigned its ‘AA’ long-term rating to the 2019,
2020, and 2021 issuances and affirmed their ‘AA’ rating on the city’s certificates
outstanding. The rating is based on the City’s very strong reserves combined with
steady budgetary performance produced by a very strong financial management team.
In addition, S&P cited expectations for the city to continue stable operations and the
projection for assessed values in the city to continue growth.
The City’s debt service schedule is shown below. The City continues planned debt
service contributions to fund capital projects without tax increases when possible for
General Fund projects. The Utility Fund capital projects are generally planned in the
year or debt service declines in order to minimize the need to raise utility rates.
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