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City of Coppell Retains AAA Bond Rating

​Moody's Investor Services and S&P Global Ratings recently reaffirmed the City of Coppell's AAA bond rating. This rating, which is given to only a handful of cities in Texas, recognizes the City's high level of financial stability.  

"The reaffirmation of the AAA bond rating is significant because it lowers the cost of borrowing for Coppell taxpayers," said Jennifer Miller, Director of Finance. "This recognition is the result of the City Council's conservative fiscal approach and dedication to financial responsibility. The AAA rating recognizes Coppell's strong economy, strong management practices, solid performance and ample monetary reserves."

At the July 24, 2018 meeting, the City Council will issue $46,000,000 in Certificates of Obligation. The bonds will be used to fund the following projects: 

  • Water Works and Sewer System Project – This $12 million issue will be funded from water and sewer revenues generated by users in the consumption of water and discharge of wastewater. Of the $12 million, $6.8 million will be used to fund the Advanced Water Meter System project, $3 million for inflow and infiltration improvements, $1 million for equipment at the Village Parkway Pump Station, and $1.2 million for the rehabilitation of a water tower. 
  • General Government Projects – This $18 million issue includes $6.5 million for Phase 2 of the Rolling Oaks Cemetery expansion, $10 million for the design and construction of Fire Station 4 and the design of Fire Station 1, and a $1.5 million repayment to the City for the asphalt overlays on Royal Lane and South Belt Line. 
  • Arts Center Project – This $16 million issue will be funded by a transfer of sales tax revenue from the Coppell Recreation and Development Corporation (CRDC). The City and CRDC have established an inter-local agreement in which the CRDC pledges the sales tax revenue, of which approximately 65% is collected from businesses and corporations, for the debt repayment.  

"Because the City has maintained its AAA bond rating, we will realize significant savings over the life of the Certificates of Obligations issued for these projects," said Miller. "This means that we are able to be better stewards of public monies while still taking on projects that will positively impact the lives of our residents." 

For more information about the AAA rating, contact the Finance Department at 972-304-3691. 

View Fiscal Year 2018-2019 budget information.