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	May We Have A $66,700,000 Loan Please? By: James Clark We Lubbockites are all collectively taking out a loan to pay for water projects. The lender says … 12 days from now the city of Lubbock will ask investors all over the planet for a $67 million loan. That money pays for upgrades to a water treatment plant in Southeast Lubbock that was approved roughly three weeks ago. The Fitch Bond rating agency has assessed the city’s credit rating and gives Lubbock a double-A rating. How good or bad is that? Let’s ask City of Lubbock Chief Financial Officer Jeff Yates. “It’s the next to highest rating you can have, the highest being a triple-A, which would be a challenge for the city of Lubbock to attain a triple-A due to our location. Generally triple-A cities are located in major metropolitan areas with a large population base to draw on.” In plain English Yates is saying the city has the highest credit rating we could reasonably expect. That should help the city get a lower interest rate and that will save money on our water bills. Fitch says the city’s debt level is pretty good at $820 of debt per capita. The unemployment rate is low and total valuable of taxable property is expected to grow by $3 Billion or more based on 60 ongoing residential and commercial projects in Lubbock. Story Posted: Fri Jan 4 06:30:00 CST 2008 Created: Fri Jan 4 06:06:17 CST 2008 BACK TO HOME/NEWS Top Story • Lubbock tax bill going up Lubbock News & Lbk County • Tech fans face parking challenges • Seat belts required in school buses • Apartment fire injures one Weather • Thursday Forecast Business • AM Business Notebook Around Texas • Cornyn Comments On Obama's Iraq War Remarks • Fire Warning For Hunters As Dove Season Kicks Off • Boy Dies Of Rare Infection From Water • Austin Headlines • Dallas Headlines • Houston Headlines • San Antonio Headlines Swap Shop • Swap Shop Update This Day In History • Today Marks Formal End Of World War Two • Today In History Birthdays • Today's Birthdays Entertainment • Tonight's TV Off Beat News Of The Day • Middle School Student Arrested Over Facebook Threats Health Beat • New North American Lutheran Church Launched • New Study Doesn't Bode Well For Abbott Diet Drug Religion Today • New North American Lutheran Church Launched • Al-Qaeda Leader Calls For Killing Christians Sports • Sports Shorts

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