During my tenure on the Blaine City Council, our bond rating gradually rose from a single "A" rating in 2003 to a "AAA" in 2019. Only 260 (out of 19,000+) cities in the country have this top tier rating. This is a reflection of the financial health of the city. It didn’t happen overnight, or by accident. It took all of us working together for many years.
A city's bond rating is like a credit score - the healthier the city’s financial situation, the higher our rating. As our bond ratings improved, we were able to refinance existing debt, and issue new bonds at amazingly low interest rates. This benefited the taxpayers greatly.
Want to learn more?
Shallow dive: https://northmetrotv.com/news-headlines/blaine-receives-bond-rating-upgrade/
Medium dive: https://www.blainemn.gov/2833/City-of-Blaines-AAA-Bond-Rating
Deep dive: (27:45 - 44:50) https://blaine.granicus.com/player/clip/974?view_id=3&redirect=true&h=47ea02fee187b109944fcebcddacc66d