$55 million earmarked for expansion of Hamilton County Judicial Center
S&P Global Ratings has assigned Hamilton County a ‘AAA’ long-term rating to its existing general obligation bonds (GO) and its lease debt not subject to annual appropriation. At the same time, S&P Global Ratings assigned its ‘AAA’ long-term rating to the county’s 2024 general obligation refunding and project bonds, with a preliminary par amount of $55 million. The outlook is stable.
Massillamany
“The savings on the refunded bonds will allow the county to finance improvements to the county’s Judicial Center by extending the current tax rate for four years,” County Council President Amy Massillamany said. “That ensures the project can be completed with no tax increase.”
In assigning its AAA bond rating, S&P analysts noted the county’s “very strong economic profile, characterized by robust economic growth, including the highest population growth among Indiana counties in the latest census” among its key attributes.
It also noted Hamilton County’s “strong budgetary management practices” that “have enabled the county to maintain an extremely strong reserve position while managing its operating and capital expenditure growth and limiting new debt.”
Heirbrandt
“This rating saves our residents money, by providing a lower cost of borrowing to finance capital projects,” County Commissioners President Mark Heirbrandt said. “This also makes the county more attractive to businesses and signals a sound and stable economic climate. It certainly speaks to the hard work and teamwork of our county commissioners, county council, and finance team over the past three months.”