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
  • Dr Don Newbury 2014.jpg When 'breaking news' was fragile

    The lesson, hammered by countless journalism teachers for century(s), was intended to be cattle-branded into minds of aspiring writers who would go forth to inform readers about what’s going on in the world. And it was emphasized that “getting it right” was preferable to “getting it first.”

    April 23, 2014 1 Photo

  • Dick Platt 2014.jpg Highly questionable

    As you have probably surmised, I am just about addicted to my TV, and especially to jock shows throughout the day. I usually start my day with a couple hours of “Imus in the Morning,” just to broaden my horizons in the areas of politics, investments, current events, show business, and a plethora of other topics

    April 21, 2014 1 Photo

  • Janet Jacobs Technology versus common sense

    The gadgets of the future will include an internet-assisted backyard grill, according to news accounts this past week.

    April 20, 2014 1 Photo

  • Belcher, Bob.jpg Salute to 'Mr. Derrick Days'

    I can’t help but think back to the “near-death experience” that Derrick Days had 14 years ago, and how one man’s determination brought it back.

    April 18, 2014 1 Photo

  • Bill Tinsley Resurrection

    I was 29-years-old when my father died of multiple myeloma, cancer of the bone marrow.  He was 53 years of age. Only hours before his death, I spoke with him. Our eyes met during that final visit, the same eye contact we had shared from my birth.

    April 17, 2014 1 Photo

  • Dr Don Newbury 2014.jpg It’s about time

    Some aspect of time steals quietly into our psyche in all conscious moments, and our use or abuse of it is central to much poetry, lyrics, scripts, conversations — you name it.

    April 16, 2014 1 Photo

  • Dick Platt 2014.jpg The Wonderlic Test

    Did you hear the one about Texas A&M’s “Johnny Football” Manziel testing better than all the other quarterbacks in this year’s NFL Scouting Combine? No, this is not the start of an Aggie joke.

    April 14, 2014 1 Photo

  • deannakirk.jpg Work Out? Bite your tongue!

    I've shared this before, but it bears repeating. I'm a lot like my late, dear Daddy … whose idea of “working out” was a good, brisk sit.
    Amen, Daddy. Me too.

    April 11, 2014 1 Photo

  • Letters to the Editor for Saturday, April 12, 2014

    Thanks for service
    To the Editor: The Blooming Grove Elementary School would like to express appreciation to several individuals and businesses that for three years have provided a “free” vision exam and eyeglasses for many of our students.

    April 11, 2014

  • Dr Don Newbury 2014.jpg Uncle Mort: For the Birds

    Personal experiences racked up across three-quarters of a century — including yips and yaps at lecterns spanning five decades — offer positive proof that many times, utter silence is preferable to spoken words.

    April 9, 2014 1 Photo

AP Video
Raw: Deadly Bombing in Egypt Raw: What's Inside a Commercial Jet Wheel Well Raw: Obama Arrives in Japan for State Visit Raw: Anti-Obama Activists Fight Manila Police Motels Near Disney Fighting Homeless Problem Michigan Man Sees Thanks to 'bionic Eye' Obama to Oso: We'll Be Here As Long As It Takes Bon Jovi Helps Open Low-income Housing in Philly Pipeline Opponents Protest on National Mall Hagel Gets Preview of New High-tech Projects S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter SCOTUS Hears Tv-over-Internet Case Chief Mate: Crew Told to Escape After Passengers Iowa College Finds Beauty in Bulldogs
Featured Ads
Twitter Updates