On July 15, 2021 Moody’s Investors Services has assigned a Aa2 rating for the Village of Lincolnwood’s planned General Obligation Bonds, Series 2021A and reaffirmed this rating on all outstanding debt. The Village was most recently rated in 2019 and assigned the Aa2 rating at that time. The Aa2 rating is the third highest rating available to agencies and was the first evaluation received by the Village since the pandemic. This stable rating is a result of sound financial management on the part of the Village President, Village Board and Village management.
Other qualities noted include the adherence to the Village’s fund balance policy, the Village’s strong operating revenues of the local tax base and purchasing power of the community, and home rule ability of the Village which has been utilized to control costs and The Village has worked hard to create and maintain a reserve of funds to assist in times of economic downturn or unexpected events, which may assist management in controlling costs to residents and businesses in Lincolnwood and avoid substantive increases in fees or property taxes.
The Village is issuing these bonds of approximately $10.2 million for the purposes of capital infrastructure improvements for the Lincolnwood water system, roads, and stormwater management. The 2021A bond proceeds will also refinance (for debt service savings) an outstanding loan borrowed through the Illinois Environmental Protection Agency’s (IEPA) State Revolving Fund loan program. The original IEPA loan helped finance previous infrastructure projects. This is part of a multi-year program designed to invest in the Village’s infrastructure while utilizing the Village’s strong bond rating to support the needs of the community.