STILLWATER, Okla. — As an added bonus to the city refinancing municipal bonds from 2000 and 2001 city finance consultants and staff found the city’s financial rating had been upgraded.
The change could have a longterm effect on city interest rates that would allow the city to save untold amounts of money on future debt repayments for projects.
The city’s bond rating, a kind of credit score banks base interest rates for government entities, has been upgraded by Standard & Poor’s from an “A+” to a “AA-.”
The upgrade paid immediate dividends to the city. Financial consultant John Wolf had been directed by the City Council to refinance about $8.5 million in bonds in order to seek an estimated savings of about $500,000.
His original estimate had been based on the old credit rating. With the upgraded rating, savings jumped to $700,000.
The Council chose to take as an upfront premium payment. The $700,000 is legally bound to only be spent on upgrades on equipment and facilities at the Municipal Building. The original bonds had been issued to renovate and build portions of the Municipal Building and police station, 723 S. Lewis St.
Home
Stillwater's bond rating upgraded
- Local News
-
- Perkins city manager fires police chief
- Parts of University Avenue, Kings Street to be closed Thursday for waterline repairs
- UPDATE: Oklahoma granted No Child Left Behind waiver
- Meth charges filed against four people in Payne County
- Stillwater mayor's race draws three candidates
- Barresi: Oklahoma Department of Education shaping rules to implement new laws
- Stillwater's latest Town & Gown production opens Thursday
- Request Stillwater NewsPress headlines
- Local Sports
-
Yale’s Tori Huff (20) can make a difference with her scoring and rebounding.The Yale senior is averaging a double-double per game for the Lady Bulldogs.
-
Yale's Huff plays bigger than 5-foot-7
Yale High's girl basketball player Tori Huff can shot and rebound with the best.
- Oklahoma State will host National Duals regional on Sunday
- Thompson, Pioneer basketball a perfect match
-
Yale's Huff plays bigger than 5-foot-7
- Our World
-
-
10 most romantic hotels in the U.S.
Valentine’s Day will be here soon, and a romantic getaway may be just what the heart needs. TripAdvisor has released its list of the 10 most romantic hotels in the country, based on travelers’ reviews about the beautiful scenery, friendly staffs and romantic amenities like hot tubs and fireplaces.
-
10 most romantic hotels in the U.S.
- Crime Beat
-
-
Crime Beat 02-09-12
Payne County District Court
Felony charges - Payne County Commissioner claims rural road sign thefts on the rise
- OSU police investigate textbook theft
-
Crime Beat 02-09-12
- OSU Sports
-
-
Oklahoma State will host National Duals regional on Sunday
The top ranked Oklahoma State University wrestling team will host the National Duals on Sunday at Gallagher-Iba Arena. The first matches begin at 1 p.m.
- Oklahoma State point guard Tiffany Bias hits free throws in the final minutes as Cowgirls beat Texas Tech
- The Oklahoma State men's tennis team defeats Oral Roberts 7-0
-
Oklahoma State will host National Duals regional on Sunday
- Stilly Studio
- Obituaries
- Stocks






