I Wonder What Bexar Met's Bond Rating is Now?

Bexar Met General Manager Victor Mercado has just been indicted in Detroit on Racketeering charges.  I think that A bond rating for the utility may be sinking fast, just when they really need to borrow some money.

Responsible Government

It's nice to know that in the middle of a recession, with many cities on the brink of bankruptcy, that the city of San Antonio and Bexar County are in such great financial shape.  San Antonio recently received the best rating for bond issues and now Bexar County has just received a AAA bond rating for the $155 million in bonds it's getting ready to sell.  Top bond ratings mean much lower interest rates for repayment, which lowers government costs considerably when dealing with millions of dollars in debt service.

According to the San Antonio Business Journal the county is planning on using the bonds to finance

public safety, park, parking and street improvements. In addition, the county is planning to issue up to $680 million in certificates of obligation over a 10-year period for drainage improvements planned in conjunction with the City of San Antonio, the San Antonio River Authority and other regional partners.

I also just discovered that the city recently approved a Green Events Certification Ordinance that requires medium and large scale events (1000+ participants) or events that have city contracts, like right of way privileges such as parades, or that take place on city property (La Villita, the convention center, the River Walk, etc) to complete a  Green Events Checklist.  The checklist would include provisions made for recycling at the event for workers and participants, the use of recycleble untensils, containers and plates at food booths, and using the VIA park and ride system for large events.  They haven't started talking about carbon foot prints and carbon trading yet, but some forward thinking events, like Earth Day will probably start doing that on their own.

San Antonio is Solid Gold

The city of San Antonio just received the highest bond rating possible.  So why is this a big deal?  I means that the city's finances are so solid, with cash reserves of 9% of the annual budget, that it is in no danger of defaulting on loans like many other cities.  San Antonio is also listed as one of Forbes top ten most recession proof cities.

Kudos apparently go to City Manager Sheryl Sculley who helped the city raise cash reserves from 3% to 9% in five years.  The only other city with a triple triple bond rating is Phoenix, the city SA wooed Sculley away from.
When SA was first courting Sculley they offered her a salary so large many citizens were red with outrage, I can't say I was too keen on the idea.  But she has proved her worth.  Congratulations Ms. Sculley on a job well done.