(LINO LAKES ) - Lino Lakes city leaders celebrated a big economic win.
At the January 28th city council meeting, Terri Heaton with Springsted, Inc., the city's financial adviser, presented the city with its certificate showing its new bond rating of AA+. It reflects the city's outstanding fiscal management and responsibility. AA+ is the second-highest rating that Standard and Poor's uses for municipalities.
Mayor Jeff Reinert poses with the AA+ bond rating certificate the Lino Lakes City Council received at its January 28th meeting.
"It's the really huge cities that have (the highest rating of) AAAs, so this is quite the accomplishment to be at this very high level," Heaton told councilmembers during the brief presentation. "It speaks to a lot of things (the city has) been doing for the past decade, and as you've mentioned, this is your fifth upgrade in a very short amount of time, relatively speaking."
According to financial institutions, AA+ is the same rating that the United States government has at this point.
