Maricopa County colleges earn AAA bond ratings - East Valley Tribune: East Valley Education News

Maricopa County colleges earn AAA bond ratings

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Posted: Friday, May 6, 2011 2:47 pm

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.”

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