Laserfiche WebLink
p}(n�'�E <br />, K 6 i�G � 222-55I 5 <br />����.�.orz � �o`iocrie�i <br />MUN1Cl1'AL BOIVD GONSUL7ANI�S <br />314 MINNESOTA BUiL�ING <br />SAIhiT PAUL, M1NNE507A 55�01 <br />June 18, 1975 <br />SCiiOOL AN� MUNfCIPAL <br />SOfVD 1S3UE5 <br />FINANCIqi $URYEYS <br />ASSESSM�NTS AND <br />LQCALIMPRpVEMEN76 <br />D����� <br />� <br />0 <br />�+l.r. James F. Andre JU� 2 0�g�� <br />City Manager <br />c�ty o� Ros�V�ii� �FFICE of ClTY MANAGE� <br />2 701 North Lexington Ro5eville, 1�Ainnesota <br />Roseville, Minnesota 55113 <br />Re: City of Roseville Ra�ings <br />Dear Mr. Andre: <br />Our recex�t trip to New YQrk to visit Moody's and <br />Standard and Poor's, in an e£fart to .improve the xatings <br />of the city, was a successful effort. We have received <br />infoxmation that, based upon the materia� supplied and <br />their anal.ysis, Moody's are increasing the rating from <br />Baa-Z to A-1, by--passing the intermediate single A step. <br />Standard and Poor`s have inc�eased our rating from A to <br />A+. The city has now achieved the third highest rating <br />possibZe, �,�rith only AA and �.AA above. <br />Bonds �ahich are rated AAA are judged to be ot the <br />best quality and are gene�rally referred to as "gilt edged". <br />Bonds which are rated AA are judged to be of high qua�.ity. <br />Bonds which are rated A possess favorable a.nvestment <br />attributes and are to be considered of an upper grade <br />quality.• Tn the A and Baa class.ification, bonds which <br />poss�ss the strongest investznent attributes are designated <br />by symbols A-1 and Baa-� and in.dicate that th�se bonds <br />offer the rnaximum secuarity in their quality group and are <br />bonds which can be bpught for possibie upgrading and <br />qua].ity. As you knQw, the ratings go all the way down to <br />C. Bonds norma�.ly hav� to possess a Baa or better rating <br />in o�der to be bank eligible. <br />This impravement in ratings will cause an intez-est <br />savings of approxima�ely .25 of 1% per year over the life <br />of the bond issue and indicatea that the Ci.ty of <br />Roseville has trul� came of ag�. <br />You are aware of the various aspects of our dzscus- <br />sions with the rating analysts and the kind of questions <br />th�y raised. While we were making a saies pitch for a <br />doub�e A rating, � am p].eased with the rating assign�d. <br />In my s�bsequent discussions with the rating bureaus, it <br />would app�ar that we are close to a doubie A�ating but <br />