By David Madden
CAMDEN, N.J. (CBS) – Officials in Camden County are crowing over the latest report card from one of the nation’s top bond rating agencies.
Just like your kids coming home with a good report card, Camden County is showing off its AA bond rating from Standard and Poor’s. That’s up from AA-, and represents the county’s best bond rating ever.
“We treat the taxpayer’s money as if it was our own money,” Freeholder Director Lou Cappelli said. “I think the bond raters have recognized that.”
You can also credit expectations of continued population and job growth, not to mention the county’s accelerated rate of repaying debt and reducing the county payroll.
What does this mean to taxpayers? The better the bond rating, the less interest the county will have to pay on those bonds.