The Papio-Missouri River NRD has been notified that the district received an excellent bond rating that will save tax dollars as the district refinances Flood Protection and Water Quality Enhancement bonds. S&P Global Ratings has assigned the NRD a AA- bond rating, the second highest possible. “This is great news for our local taxpayers,” said John Winkler, NRD General Manager. “The rating reflects the NRD’s credit worthiness exemplified by its strong financial position, diverse and growing tax base and positive fiscal management,” he said.
The bonded funding is being used to construct flood control projects and water quality improvements in the district.
At their April, 2017 board meeting, the NRD Board of Directors took action to refinance Flood Protection and Water Quality Enhancement Bonds that may ultimately save NRD-area property taxpayers millions of dollars.
The NRD issued $58,200,000 of Flood Protection and Water Quality Enhancement Bonds over two bond offerings in 2013. Interest rates have declined to a point where refinancing a portion of the outstanding bonds may achieve interest cost savings over the remaining life of the bonds.
“The Nebraska Legislature entrusted the NRD with the opportunity to fund projects using bonding authority and we always seek ways to be good stewards of this authority,” said John Winkler, NRD General Manager. “We believe we can save taxpayers one to two million dollars through this refinancing effort.”
The Board of Directors approved parameters for the refinancing of the bonds and directed the General Manager to explore the best course of action.
In 2015, the district refinanced bonds issued in 2010 and achieved approximately $460,000 of interest cost savings.
The district includes all of Sarpy, Douglas, Washington and Dakota Counties plus the eastern portion of Burt and Thurston Counties.