For the fourth time in five years, Maricopa Community College District has earned AAA ratings from the three major bond rating agencies.
The college district is ready to sell $150 million in general obligation bonds to finance a variety of construction projects throughout Maricopa County.
The sale, set for mid-May, will mark the fourth time the district has gone to the bond market to borrow funds for construction projects since 2004, when voters passed a $951.4 million bond referendum. Rather than borrowing that money all at once, the district has divided up the projects to be undertaken.
“We were gratified to again receive Triple-A ratings from the three agencies,” said Chancellor Rufus Glasper. “It not only is a strong vote of confidence in the financial administration of the district, it also means that taxpayers will again be able to reap the advantages.”