Oak Ridge Today

City Council to consider $16.5 million in bonds for Preschool, Senior Center projects

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A rendering of the new Oak Ridge Preschool at Scarboro Park. (Image courtesy City of Oak Ridge/Studio Four Design)

A rendering of the new Oak Ridge Preschool at Scarboro Park. (Image courtesy City of Oak Ridge/Studio Four Design)

 

The Oak Ridge City Council on Monday will consider whether to issue bonds of up to $16.5 million to build a new Oak Ridge Preschool and Oak Ridge Senior Center, and redevelop Scarboro Park.

The two projects have an estimated cost of roughly $16 million, according to the City Council agenda for Monday. The bond resolution includes about $500,000 extra for the costs of issuing the bonds and for project contingencies.

The Preschool and Scarboro Park improvements have a total estimated cost of about $12.5 million. About $11.1 million of that is for construction.

The Senior Center has a total estimated cost of roughly $3.5 million. About $3.1 million of that is for construction. [Read more…]

Moody’s upgrades Anderson County’s rating, removes ‘negative outlook’

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Terry Frank

Terry Frank

CLINTON—Moody’s Investors Service announced from New York that they have affirmed the Aa2 General Obligation, or GO, rating of Anderson County and have upgraded Anderson County’s rating by removing the “negative outlook,” officials said.

During bond issuance for rural elementary and rural high school bonds, as well as tax anticipation notes, Moody’s assigned Anderson County an Aa2 “negative outlook” rating in the 2010/2011 budget year, a press release said.

Highlights from Moody’s rating report of July 9, 2015, noted that the company lifted the negative outlook and that “improved financial performance” led to “reserve and liquidity growth,” the release said. [Read more…]