Lewisville Receives Another AAA Bond Rating

Fitch Ratings announced today that they were again rating the City of Lewisville's general obligation (GO) and revenue COs as AAA, the highest credit rating offered.

Among the reasons cited by the analysts:
- Solid financial performance, such as operating surpluses, managed costs, limited capital needs, and high liquidity

- Financial flexibility due to strong fund balances, moderate tax rates, and ability to fund capital projects from the general fund.

- Manageable debt, with a rapid principal amortization rate - meaning that the city pays off its debts quickly

- Healthy tax base, which is growing after two years of decline

- A strong socioeconomic profile with low unemployment, and above-average income and wealth.

Lewisville is floating $26.4 million in GO refunding and improvement bonds, which will be priced the week of May 7th. The proceeds will be used in part to retire debt with higher interest rates, and complete some remaining capital projects approved by voters in 2003.

This video contains the discussion that took place in February at the City Council Retreat regarding the bond program, and Council's direction:




The $9.94 million in capital projects for this issuance at the retreat include:
- Public Safety Training Center: $1.3 million
- Valley Ridge Drive from Mill to College: $7 million (Denton County providing additional money)
- FM 407: $1.6 million