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News : New 911 Call Center For Boone County Looking Promising
Columbia, MO, US, Jan 21, 2015 -- Efforts to establish a new 911 Call Center for Boone County received a boost last week, as Moody’s Investors Service issued an Aa2 rating for the special obligation bonds being used to fund the project.
Moody’s, along with Standard & Poor’s and Fitch Group, is one of the three primary credit rating organizations in the country. Their website says that an Aa2 rating represents bonds "judged to be of a high quality and subject to very low credit risk," with issuers that "have a strong ability to repay short-term debt obligations."
A press release from Moody’s listed various county strengths as rationale for the strong ratings, among them a "large tax base bolstered by institutional presence."
Moody’s also pointed out challenges the county faces, including reliance on "economically sensitive sales tax revenues." This issue was also outlined in Boone County’s 2014 proposed budget, which said that the sales tax base was eroding due to an increase in remote and online sales, along with a shift toward a "service-based economy." The proposed budget showed 52.6 percent of the general operating fund for the county coming from sales tax, down from 65.3 percent in the 2013 general fund.
The cost of the call center, to be constructed north of Columbia near the Boone County Sheriff’s Department, is expected to come from the special obligation bonds.
Last week, the county accepted a construction bid from Columbia-based Little Dixie Construction, clearing the way for the project to begin this year. The expected completion date is in the first quarter of 2016, according to presiding Boone County Commissioner Dan Atwill.
Posted by Veronica Silva Cusi, news correspondent
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About Boone County:
Boone County is a county located in the U.S. state of Missouri.
Published: Friday, January 23, 2015