The City of Boerne maintains a Moody’s Aa2 credit rating from Moody’s Investors Services, which exceeds a median rating of Aa3 for U.S. cities.
Moody's stated the rating reflects the City's strong and stable operating reserves maintained by prudent financial management coupled with robust economic growth. The Aa2 rating also reflects the City’s restructuring of tax notes thereby reducing the risk to the City’s financials.
The Aa2 rating was applied to the City’s general obligation limited tax (GOLT). The report states Boerne has a "high quality" credit position. The City has maintained the same low tax rate for the last 12 years, while incrementally decreasing the debt service rate to provide additional operating revenues for the city.
See the full report from Moody’s.
About Debt Reporting
The 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code §140.008, political subdivisions, including counties, cities, school districts, junior college districts, special purpose districts, and other subdivisions of state government must annually compile their debt obligation data from the preceding fiscal year.
HB 1378: Debt Obligation Reporting under Local Government Code Section 140.008
Click to see 1378 Annual Debt Report for the City of Boerne.