Finance Department

Bonds, Investments, & Bond Obligations

Bonds, Investments, & Bond Obligations

The City seeks to maintain the highest possible credit ratings for all categories of short-term and long-term debt instruments without compromising the delivery of basic City services and achievement of City policy objectives. Ratings are a reflection of the general fiscal soundness of the City and the capabilities of its management. By maintaining the highest possible credit ratings, the City can issue its debt at a lower interest cost.

To improve creditworthiness, the City is committed to prudent financial management, capital planning, and long-term financial planning. The City recognizes that external economic, natural, or other events will affect the creditworthiness of its debt. Each proposal for additional debt is analyzed for its impact upon the City’s debt rating on outstanding debt.

Credit ratings issues by the bond rating agencies are a major factor in determining the cost of borrowed funds in the municipal bond market. The concept of debt capacity, or affordability, recognizes that the City of Fresno has a finite capacity to issue debt at a given credit level. The City of Fresno has enjoyed consistent improvement in both its bond ratings and ratings outlook over the past few years.

City of Fresno Bond Obligations

Aggregate Outstanding Debt

Airport Revenue Bonds Series 2007 (Consolidated Rental Car Facility)

Airport Revenue Bonds Series 2013 (Capital Improvements)

Fresno Joint Powers Authority Financing Authority Lease Revenue Bonds (Chiller) Series 2008 E

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2010 (Refunding of 2000 City Hall LRB, Fresno Bee Building & Granite Park Bonds)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2010 (Parking Garage #7 Improvements)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2009 A (Police & Fire Projects)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2008 A (No Neighborhood Left Behind)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2008 C & D (Parks Impact Fee Projects)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2008 C & D (Riverside Golf Course)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2008 F (Partial Refunding Var. Cap. Proj.)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2006 A & B (Convention Center Improvement Project)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2004 A,B,C

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 2001 A & B (Multi-Purpose Stadium)

Fresno Joint Powers Financing Authority Tax Allocation Revenue Bonds Series 2001 (Southwest Fresno Project Merger)

Fresno Joint Powers Financing Authority Lease Revenue Bonds Series 1998 (Exhibit Hall Expansion Project)

Fresno Redevelopment Agency Tax Allocation Refunding Bonds Series 2003 (Mariposa Redevelopment Project)

Judgment Obligation Refunding Bonds Series 2002 (Refunding of 1994 & 1998 Judgment Obligation Bonds)

Sewer System Revenue Bonds Series 2008 A (Partial Refunding Sewer 1995 Full Refunding Sewer 2000 New Sewer 2008)

Sewer System Revenue Bonds Series 1993 A (Wastewater Treatment Plant Renewal and Expansion)

Taxable Pension Obligation Bonds Series 2002 (Refunding of 2000 Taxable Pension Obligation Refunding (Auction Rate) Bonds)

Water System Revenue Refunding Bonds (Non-Taxable) Series 2010 A-1 (Refunding of 1998 Bond & Capital Improvements)

Water System Revenue Bonds (Taxable BABs) Series 2010 A-2 (Water Metering & Capital Improvement Projects)

Water System Revenue Refunding Bonds Series 2003 A (Refunding of 1993 Water Bonds)

Complete Bond Listing

City of Fresno Debt Management Policies