Better Rating, Better Bonds= Cheaper W. Richland Cop Shop
Some good news for West Richland residents. City and police officials report in the most recent S&P Global Ratings, the city had it's 'value' raised.
S&P stands for Standard and Poors, and since 1860 they've provided 'credit ratings' for millions of cities, counties, and other entities all over the world.
When you hear of a city going bankrupt (like Stockton CA) it has to do with their Global Rating. According to West Richland officials, their creditworthiness went from AA to AA+, which will mean substantially better interest rates on the general obligation bonds they will use to obtain the land for and build the new police station and other safety improvements.
Better interest rates mean thousands of dollars in savings, faster payoff and ultimately less money for taxpayers. Voters approved this November the building of a much needed new police facility.
It's like if you have good credit, you'll get a better loan rate when you buy a car. So, West Richland is going to save some big coin.