In a recent Boerne City Council meeting, city officials highlighted the municipality's robust financial health and plans for future bond issuance. The discussions centered around the city's positive trajectory, with a focus on the upcoming issuance of $4 million in authorized general obligation bonds for mobility and parks and recreation projects.

City representatives noted that Boerne is currently rated "AA2" by Moody's and "AA+" by Fitch, with expectations for a confirmation of these ratings during an upcoming conference call. The city has successfully issued $9 million each in mobility and parks bonds, leaving $4 million in parks bonds still available for issuance. This strategic financial planning aims to maintain the city's current interest and sinking (I&S) tax rate while allowing for future growth and development.

The meeting also addressed the city's impressive financial recovery, with unrestricted general fund balances increasing from $13.8 million in 2022 to $22.3 million in 2024. This growth reflects a strong cash flow and a favorable economic environment, which has contributed to a significant increase in the city's tax assessed value over recent years.

Officials emphasized that the city's proactive approach to managing debt has resulted in a decrease in the percentage of general obligation debt outstanding, from 2.6% in 2022 to an anticipated 1.6% after the new bond issuance. This careful financial stewardship positions Boerne favorably for potential upgrades in its credit ratings, which could further enhance its economic standing.

As the city prepares for the bond issuance, scheduled for competitive bidding on September 9, officials expressed confidence in the community's financial outlook and the positive impact of these investments on local infrastructure and quality of life. The anticipated funds are expected to be available by September 25, marking a significant step forward in Boerne's development plans.