NORTH BRANCH CITY HALL WILL BE REDUCING PUBLIC SERVICE HOURS
On the following days:
December 26, December 27 and December 28
City Hall Hours: 8:00am to Noon, ONLY
If you need Police Assistance Please Call
Chisago County Dispatch 651-257-4100
City Of North Branch Press Release November 2018
Both the City of North Branch and the North Branch Water and Light Commission received recent upgrades to their Moody’s Credit Rating as the result of routine rating surveillance on the part of the Agency. The City’s rating was upgraded to an “A3” and the Commission was upgraded to a “Baa2”. Both entities had been downgraded by Moody’s in 2014 due in part to historical financial performance. At the time of the downgrades, the City and the Commission had already implemented changes to address their financial conditions, but rating agencies will require a number of years audited demonstration of positive financial results prior to reversing a downgrade. The City and Commission’s municipal advisor, Kathleen Aho from Springsted Incorporated indicates that “the agencies’ ‘express rating elevator’ only goes down, not up. While modest, the upgrade is a clear signal that the financial conditions that caused the 2014 downgrades have been addressed. In my opinion they had already been addressed in 2014 and there should be additional upward pressure on the Moody’s rating, but in their mind more time is needed before further changes will be made.”
A number of nationally recognized firms provide bond ratings and the City has had a “AA-“ rating from Standard and Poors consistently since 2010. While split ratings are not uncommon, the big variance between the City’s Standard and Poors rating and the Moody’s rating is unusual. (The Commission does not have a Standard and Poors rating.) Major rating categories go from the highest category of Aaa or AAA (Moodys and S&P respectively), down through Aa/AA, A/A, and Baa/BBB.
Neither the City nor the Commission have plans to issue long-term debt in the near future. For more information please contact City Hall at 651-674-8113
Open Arts Grant Information
The East Central Regional Arts Council (ECRAC) has a grant information session tomorrow specific to all Region 7E organizations (art groups, writing groups, dance troupes, community theater, community organizations, nonprofits, units of government, schools, etc.).
This session will include information about all ECRAC grant programs for organizations, grant writing tips, as well as recent changes to the grant application processes. It will be held on December 20, 2018 at the North Branch Library, 5:30 pm
To register call 320-396-2337 x 1 or email: email@example.com Pre-registration is requested and there is no cost to attend.
If you can't make a session but would like further information on the granting process feel free to contact Grant Program Officer Katina Eklund at (320) 396-2337 x 2 or by email at firstname.lastname@example.org.