If these bonds are approved by the voters, how will the additional debt be viewed by bond raters in light of Cornelius’ existing debt?

Bond rating agencies, such as Standard & Poor’s, Fitch, and Moody’s issue a debt rating on each bond issue. The Town currently has a rating of AAA from Standard & Poor’s (S&P) on its current bonds. In Standard & Poor’s current opinion on the Town’s ability to repay this debt, S&P notes Cornelius’ financial strengths, including how quickly existing debt is paid off. Based on Cornelius’ overall financial condition, debt rating agencies are expected to recognize the Town’s financial ability to continue to make its debt service payments.

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1. What is a bond referendum?
2. For what purpose will the bond funds be used?
3. How much will the Town issue in bonds?
4. Why doesn’t the Town just use cash or pay-as-you-go financing instead of bond debt to pay for these projects?
5. What is the value of one penny on the tax rate?
6. How will the Town pay back the bonds?
7. What are the property tax rate implications of these bonds?
8. What happens if the bond proposal doesn't pass in November?
9. If voters don’t approve the bonds, does this mean that the Town Board will be prevented from raising property tax rates in the future?
10. If these bonds are approved by the voters, how will the additional debt be viewed by bond raters in light of Cornelius’ existing debt?
11. If the bond referendum is approved, how quickly could the projects begin?
12. Where can I obtain additional information?