The Indianola City Council approved the purchase of over $6.7 million in Capital Loan Notes at their meeting Monday, which will fund the paving of South K St. and the reconstruction of Hillcrest Ave. City Manager Ryan Waller tells KNIA News the city received a favorable interest rate on the bond purchase due to the city’s responsible financial state.

“The bond rating, the city’s credit score if you will, has really through this process has saved the community a lot of money through interest payments. Our financial advisor was at the meeting and shared that we are the third best credit score that is available. Through this process we had to get assessed by Moody’s, which is one of the three major credit rating agencies, and we are AA2, which is third best. That is better than most of the communities around the central Iowa region.”

For more information, tune in to today’s Let’s Talk Indianola.