Board of Supervisors Authorizes Sale of Bonds


Fairfax County Office of Public Affairs
12000 Government Center Parkway, Suite 551
Fairfax, VA 22035-0065
Contact: Merni Fitzgerald, Director of Public Affairs
703-324-3187, TTY 711, Fax 703-324-2010
Media Pager: 703-324-NEWS (6397)
publicaffairs@fairfaxcounty.gov

Dec. 3, 2007

Board of Supervisors Authorizes Sale of Bonds

At its regular meeting on Dec. 3, the Fairfax County Board of Supervisors authorized the sale of $250 million in General Obligation Public Improvement Bonds in January 2008.

The county currently maintains its status as a top-rated issuer of tax-free securities from Moody’s Investors Service, Standard and Poor’s Corporation and Fitch Ratings. Fairfax County has the highest credit rating possible for a local government – Aaa from Moody’s Investors Service, AAA from Standard and Poor’s and AAA from Fitch Ratings.

Since 1978, the county has saved approximately $245.85 million on bond sales due to its Triple-A rating on new public improvement bonds. Including refunding sales, the county has saved more than $346.31 million as a result of the AAA rating.

The general obligation bond sale of $250 million includes an amount of $144.28 million for school facilities and $105.72 million for general county projects. The $105.72 million includes $53.6 million for county and regional park projects, $41.47 million for transportation projects, $4.65 million for public safety projects, $3 million for library facilities projects, and $3 million for public safety capital renewal.

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