Just like you, cities have credit scores that reflect how responsibly they manage money. West Jordan City just received a “AAA” credit score from both Fitch Ratings and S&P Global Ratings. “AAA” is the best credit rating possible.

What does this mean for you as a resident?

It means the city was reviewed by experts in government operations for financial sustainability and management practices. These agencies are independent, unbiased, and required to maintains their reputation with the public and the investment market. Your city was put under a microscope…and came out with a gold star. It’s confirmation that your elected officials are working to make sure your tax dollars are used with a purpose and a plan.

Why did the city go get a rating?

Just like when you make a big purchase on credit and the store pulls your credit score to determine what kind of interest rate they want to give you for your purchase, the city requested this review in preparation for the sale of a bond to pay for the construction of park improvements in the Ron Wood Park area.

This credit rating allows the city to issue the debt when needed at the lowest interest rate available. Last week, the city issued a $12 million bond and will pay an effective interest rate of 3.59% over 20 years. 

You can expect to see more great things happening in the Ron Wood Park as soon as January 2025. We’ll keep you updated on our progress!