A report from Moody’s Investor Services contains some very positive news for Rotterdam taxpayers. Moody’s assigned an A-3 rating to almost $2.5 million for 2009 Public Improvement Serial Bonds and affirmed the A-3 rating on $5.8 million of outstanding parity debt. According to Moody’s, “the A-3 rating reflects the town’s healthy financial position.” As a taxpayer in the town, this is great news, more so considering the almost-flat tax increase levied by the town this year! The bond ratings are frosting on the cake, as funding for capital projects can be achieved at more favorable interest rates, resulting in lower cost to town residents. My water district will have to pay the cost, $2-plus million, associated with a new water tower; the lower the interest rate on that borrowing, the more money each taxpayer in the district can keep in their pocket. Kudos to Supervisor [Steven] Tommasone for instituting fiscal policies during your five-plus years in office that preserve our town’s borrowing ability and keep Rotterdam’s tax burden as low as it is.
DICK KARP Rotterdam Junction The writer is vice chairman of the town’s Republican Committee.
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