High bond rating equals good news for Texarkana streets - KSLA News 12 Shreveport, Louisiana News Weather & Sports

High bond rating equals good news for Texarkana streets

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TEXARKANA, AR (KSLA) -

There is good news for the city of Texarkana, Arkansas as city administrators announce that bonds for street improvements will soon be sold with a higher credit rating than expected.

Mayor Wayne smith and City Manager Harold Bolt says Moody's Investors Service has assigned a AA-3 rating to the city's $10 million capital improvement obligation bonds.

Bolt says the high bond rating will be sure to attract investors, which means that street improvements can begin soon.

"The main thing it underscores is that our financial management over the years has been very good," Bolt says. "The growth and development in the community is stable and growing, and we don't face some of the same problems [as] other cities around the country."

Texarkana voters earlier this year approved a measure to refinance the bonds for street improvements.

The bonds are expected to go on sale August 20.

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