Local Leaders Press for High Credit Rating
During a trip to New York this week, Ventura County officials are asking financial rating firms to maintain the county government’s high credit rating.
A favorable report means the county can continue to secure low-interest rates on loans, saving taxpayers millions of dollars.
County chief Johnny Johnston said he will cite recent reforms aimed at tightening his control over the county’s $1-billion budget as a reason to maintain high ratings.
The annual trip is taken before July, when the county borrows up to $110 million to carry it until tax receipts are collected in December.
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