Friday, May 4, 2001
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Friday, May 4, 2001 |
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County waits for bond ratings By JOHN
THOMPSON The trip has been made, and now the county's waiting for the results. Three Coweta County commissioners travelled to New York City earlier this week to try and get a better rating for the system's water bonds that will be issued by the newly created Coweta County Water and Sewer Authority. County Administrator Theron Gay, who accompanied the Commissioners, said the county represented itself well. The county made presentations to two bond ratings companies and an insuring agent. "One person told me they see a lot of presentations and this is the best one they have seen," Gay said. Officials are looking to issue nearly $35 million in bonds to construct new water lines throughout the county and also to refinance some existing debt. County commissioners Lawrence Nelms, Vernon "Mutt" Hunter and Jim McGuffey will try to convince officials at Moody's that the county's rating needs to be moved from A1 to AA. If they're successful, the county could save up to $200,000, said County Administrator Theron Gay. Gay said it will be at least a week before the county finds out if its efforts were successful.
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