Safe you Finance

Bexar County is planning to sell $155 million worth of bonds and certificates of obligation later this month.

The county will sell $25 million in limited tax general obligation bonds, $95 million in certificates of obligation and $35 million in certificates of obligation backed by Build America Bonds. The debt is slated to be sold during the week of July 26.

Fitch Ratings has assigned an ‘AAA’ rating to the bonds and certificates. Fitch has also affirmed its ‘AAA’ rating on Bexar County’s $728 million in unlimited tax and limited tax bonds outstanding. The rating outlook is stable.

Fitch assigned strong ratings to the debt offering because of the county’s prudent stewardship of funds during the current economic slowdown no checking account payday advance. Fitch also noted that the county keeps a pool of money in reserve due to its 10 percent fund-balance policy, that it has steady population growth, and that it has robust military, health care, higher education, professional business and service sectors.

The current offerings will finance public safety, park, parking and street improvements. In addition, the county is planning to issue up to $680 million in certificates of obligation over a 10-year period for drainage improvements planned in conjunction with the City of San Antonio, the San Antonio River Authority and other regional partners.

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