City's bond ratings improving
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#1 Jul 8, 2010
It's great to have a little improvement in our bond rating but it really doesn't change anything for Lowell taxpayers. All the rating agency is saying is that Lowell as a taxing authority is effectively putting the cost of government back on its taxpayers. I guess that's a good thing if you're a bondholder of City of Lowell paper but as a taxpayer, I'd be a lot more grateful if Moses and Lynch could reduce the cost of government rather than raising our taxes to pay for it. They both know this of course but I suspect there will be a fool or two on the CC who will trumpet this as some kind of accomplishment by the City.
All it means is that the City knows how to send its bills out in the mail. I suppose we can contrast that with Lawrence though. Lawrence doesn't seem to even be able to bill and collect taxes.
#2 Jul 8, 2010
Lowell's improving bond ratings will save the city millions in completely unnecessary interest payments in the future.
Maintaining this rating allows the city to make critical investments in our infrastructure, while saving taxpayers money.
This rating also demonstrates that the Lynch administration has been good fiscal stewards of the taxpayersmoney.
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