Northampton County is in the process of financing the $21 million cost of a new parking deck at the courthouse campus. Part of the procedure includes a bond rating. Last night, Executive Lamont McClure told County Council that Moody's bond rating for the county is AA1.
The best possible rating is AAA, which means "highest quality, subject to lowest level of risk." The next highest rating is AA1, which translates to "high quality, subject to very low credit risk." This is the same bond rating as the Commonwealth of Pa.
McClure believes the county would be AAA but for two things. First, ratings agencies tend to dislike when municipalities reduce taxes, as NorCo did. Second, ratings agencies dislike when municipalities manage nursing homes, as NorCo does.
Oh cool, it’s time to spend even more money on a parking deck that has had more band-aid patchwork than Karoline Leavitt.
ReplyDeleteHow many more terms is Lamont eligible for ?
ReplyDeleteThird reason - NORCO is not "gay enough".
ReplyDeletePlus he loves screwing over county union employees. So keep that AA rating. Trust me it will all come out during his run for congress. Even if the big union bosses don't want to talk about it. The rank and file will.
ReplyDeleteUnion employees have never done better Crowley. Pick up some more OT that you’re always crying about, but refuse to give up.
DeleteTranslation is Ratings Agencies like to see steady incoming revenue and dislike seeing expenses.
ReplyDeleteIf McClure were the Duke of the County instead of County Executive, he'd be "A Number One!"
ReplyDeleteBut I’ll always think of him as a big number two!
DeleteGovernment always lies about money.
ReplyDeleteCredit rating agencies rate your ability to pay back a loan. They know full well that as a government, they can just raise taxes!
ReplyDeleteWhat McClure wont tell you - the county is broke and Gracedale is running a $20 million dollar deficit. He cut taxes when covid money was flush and is now running for the exit when he knows he wont be able to keep the house of cards up any longer.
What a disaster.
It'll all come out in his Congressional race. McCluless is just another opportunist, just like the worst Candidate for Executive, other than John Brown, Tara "Bullhorn" Zrinski!
Deleteand you would know nothing about this, Amy
DeleteI'm not Amy
DeleteOK, how about posting the 2024 Q4 unaudited financial statements on the county website as previous administrations have?
ReplyDeleteHow about #2 (McClure) helping the DIXIE project get moving and quit worrying about parking decks Easton's Mayor should be the County Exec.
ReplyDelete10:55, Yeah, let's drop everything and cut a $29 million tax break to a developer so he can build apartments nobody in the LV can afford, which in turn will make the affordable housing crisis that much worse. Yeah, let's listen to the demands of an idiotic borough that illegally removes a council member and takes advice from an attorney who allegedly brought cocaine into juvenile court.
DeleteBernie, you are showing your true colors. How about all the apartment in downtown Easton Yes,and maybe you should publish your law license
ReplyDelete