As part of the Village’s Transportation Asset Management Plan, the Village will be issuing $2.5MM in future debt to finance the reconstruction of Concord Road, W. Jersey Street and S. Kasson Street as well as institute a pavement preservation plan. The first step in securing the debt was to be rated by Moody’s Investor Service. The past three years the Village has cut expenditures which has resulted in increased general fund balance. The increase in general fund balance was a factor in the Village receiving the highest rating (MIG 1) for our Bond Anticipation Notes (BAN). This designation denotes best quality. There is present strong protection by established cash flows, superior liquidity support or demonstrated broad-based access to the market for refinancing.