WARREN, NJ - On June 2, Warren Township was issued a Triple A rating from Standard & Poor’s rating services. Warren Township will be receiving bids for General Obligation General Improvement Bonds Series 2014 on June 12.
The Standard & Poor rating recognized the following:
-Warren Township’s very strong economy including per capita income, and employment accessibility.
-Strong budget flexibility and strong budget performance.
-Strong management conditions and good financial practices.
-Strong debt profile
-A stable outlook reflecting the Township’s financial performance.
The Township of Warren will be receiving bids for General Obligation General Improvement Bonds Series 2014 on June 12. The bonds will be utilized to fund a variety of previously completed projects including: purchase of a ladder pumper for the Warren Township Fire Department; Purchase of a Pumper for the Warren Township Fire Department; Paving of Mountainview Road; Purchase of a dump truck and other Public Works equipment; and $1,000,000.00 to provide partial funding for the new municipal annex.
The Township anticipates that the Triple A bond rating will result in a lower interest rate at the time of the bond sale on June 12.
This is recognition of not only internal practices but of the business and residential community as well. Standard & Poor highlights Warren’s presence of such businesses as Citigroup, Chubb and Verizon Wireless as important reasons contributing to this rating.
The Township Committee is proud of the Triple A designation which is a recognition of the residents and businesses of Warren Township as well as Township financial and management practices.