08-26-1985 Council Packet - Laserfiche WebLink

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Moody' Municipal Credit Report Orono, Minnesota June 10,S9g5 CIf)i ;I O�iI;N0 Review General Obligation/Special Tax Moody's rasing: Aa (rndasd from Ad) opinion: Excellent financial operations are supported by a grade secunly is afforded Accordingly, the rating large and growing tax b.ise. Combined with high has been reseed from AS to Ao, wealth levels.md tan improved debt position, high koy faclic Debt Burden 1.9% Owner Occupied Median Housing Value. Payout. Ten Years: 93.6% 1980: S97,100 Average Annual Growth, F.V., 1980-84: 9.0% Unemployment. Hennepin County 3/95: 4.0% F.V. per Capita, 1984/g5: S63,760 General Fund Balance in % Median Family Inoome. 1990: S35,223 Revenues. FY 1994. 100.8% onafyalc Excellent financial open itiom have been mamusinn rah consistently stable General Fund balances, at June 30. 1994, the balance represented over 100% of operating revenues. Steady tax have growth has enabled the city to reduce the tax rate while still supporting the city's operations. The location of the community within commuting distance of the Twin Cii in and on Lake Minnetonka accounts fir the predominately residential us have and should continue to be a strong factor despite the lack ofdivenity Socianonom.c mdicn.ire among the highest in �'� IVT-- -"4m-- the state and county unemployment remains bet" state and national avenge. Debt position is favorable with modest debt burden and rapid payout. Proceeds of this financing will fund unitary sewer improvements; the city intends to issue an additional $I million in the next one to three yean for more sewer improvements. AI this time. we have aho reviewed and revised the sting on Orono sultaid road bonds to Aa. This ennew was prepared in conjunction with the cdy's sale of S900.000 general obligation improvement bond vlc ,in June 10, 1995.