Good credit rating could mean more new equipment for fire district
BOONE COUNTY - Boone County Fire Protection District said Friday it is ready to sell the other half of its $14 million bond that a credit rating service has given a good rating.
Moody's Investors Service gave the BCFPD's bond a favorable rating because of its modest tax base, average socioeconomic profile, healthy financial position with sizable reserves and small debt burden. Moody's said the rating means the bond is high quality with very low credit risk.
Moody's said BCFPD's strengths were its solid reserve levels and small debt burden with no future borrowing plans.
Moody's said it expects BCFPD's tax base to be stable because of ongoing growth and its promising location in central Missouri.
Battalion Chief Gale Blomenkamp said the University of Missouri's hospital and medical clinics provide a stable employment and population trend for BCFPD, even though Columbia has its own fire department.
Blomenkamp said the $7 million bond funds will be used to remodel fire stations, buy land and build a new fire station in the east central part of the district.