Corsicana Daily Sun, Corsicana, Texas

Opinion

October 19, 2012

Message from the Mayor: Bond, insurance ratings

The City of Corsicana received notice last week that Standard and Poor’s, a credit rating agency, raised the revenue bond rating for the City of Corsicana from an A- to an A.  

The City Council adopted a financial policy in 2000 with the stated goal to achieve an A bond rating for both general obligation and revenue bond issues. In the slow climb to rebuild the City’s credit rating, this is another milestone. This is important to businesses and residents for many reasons. A higher rating allows the City to enjoy a lower interest rate when borrowing money for large projects, and is proof to the citizens that the city is on solid financial ground.

In addition, the Insurance Service Organization, ISO, conducted a survey of the City of Corsicana this year.  The evaluation included a review of the City’s fire department, water services, police department communications, permitting and inspection departments and was conducted in order to determine the City’s capabilities in these areas. The information obtained during the survey was used by ISO to determine and set the City’s Property Protection Classification, PPC. This classification is used by most insurance agencies to determine fire insurance rates for business and residential property owners.

The PPC Classification is based on a numerical scale from one to ten. A classification of one is considered the best classification a city can obtain. Corsicana currently has a classification of five and has held this classification for many years. The result of the current survey has lowered the classification to a four which should offer a reduction in the fire insurance premiums the citizens pay.

It is the City’s goal to reach an ISO rating of 3 in the future.  Work will continue toward that end.

Sincerely,

Chuck McClanahan

 Mayor

 

1
Text Only
Opinion
  • Dick Platt 2014.jpg ‘Spilling doze count’

    My subject is borrowed from a local contributor to the Sarasota Herald Tribune named Bob Parkinson.

    July 28, 2014 1 Photo

  • Deanna Kirk Water Park woes

    I’ve come to the realization that vacations are not a luxury, they’re a necessity.

    July 25, 2014 1 Photo

  • Dr Don Newbury 2014.jpg Old, new, borrowed, blue

       Dissection of notes found in the pocket of an old suit isn’t easy. Maybe they were scrawled during the lull in a wedding ceremony, or to jog my memory of a joke for later use.

    July 24, 2014 1 Photo

  • Dick Platt 2014.jpg Spam french fries

    I saw a relatively disturbing video and article on Yahoo which touted making Spam French fires to go alongside your big old ground chuck burger. I just can’t imagine a basket full of these deep-fried cholesterol-loaded sticks, but there they were, bigger than Texas.

    July 22, 2014 1 Photo

  • Janet Jacobs Dumb and dumber in the blotter

    When it comes to dumb criminals, nothing beats the would-be gang of car burglars who tried to break into a car in Tampa, Florida, this past week.

    July 20, 2014 1 Photo

  • Belcher, Bob.jpg ‘Change’ — old "buzz word" shows up in our town

    If you pay much attention when you’re driving around town lately (and I really hope that you do — pay attention, that is) you can’t help but admit we’ve seen some “change” as of late. And, contrary to the political connotations that word will forever carry with it now, that “change” we’re seeing is good.

    July 18, 2014 1 Photo

  • Bill Tinsley Germany present and past

    Last Sunday evening my wife and I stood on the balcony of our apartment in Nuremberg and watched as fireworks lit up the sky.

    July 17, 2014 1 Photo

  • Dr Don Newbury 2014.jpg Where strawberries are king

    In 1949, when Stilwell, Oklahoma’s “Strawberry Festival” was just one year old, crooners were applauded when they cut loose with Dear Hearts and Gentle People.

    July 16, 2014 1 Photo

  • Dick Platt 2014.jpg My TV is held hostage

    Give me back my TV! The Sunday sports fare today is just pitiful as far as I am concerned. Over the past weeks, my normal sports programs has been rudely preempted by endless hours of Wimbledon tennis, the Tour de France, assorted motor sports, and the nauseating mega-million signing sagas of LeBron James and Carmello Anthony

    July 14, 2014 1 Photo

  • Janet Jacobs Thoughts from abroad

    So, with the generosity of Mastercard and warm encouragement of my friends who went with me, I went to Italy on vacation. Not Italy, Texas, the one in Europe.

    July 13, 2014 1 Photo

AP Video
US Ready to Slap New Sanctions on Russia Kerry: Not Worried About Israeli Criticism Boater Rescued From Edge of Kentucky Dam Girl Struck by Plane on Florida Beach Dies Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming Traditional African Dishes Teach Healthy Eating
Featured Ads
Twitter Updates