The City of St. Joseph’s bond rating, which has been at an A+ for the past four years, was raised to an AA- for 2015. This increase in bond rating allows the city to sell bonds at a lower interest rate.
The increase is due to the increased financial health of the city. The rating is issued by Standard and Poor.
The city also issued $2.64 million in bonds, which were purchased by Northland Securities; $1.87 million will be used to help purchase Colt’s Academy, along with $506,000 in cash. The remaining $770,000 in bonds will be used to pay for equipment purchases and improvements in the city that have already been approved, including the Northland and Clinton Village neighborhood improvements.
Gruber is a reporter for the Newsleaders. He grew up in Melrose, MN, attended St. John's University, spent over a year teaching English in China, and most recently worked as the morning producer at WDIO-TV in Duluth, where he won a 2014 Upper Midwest Emmy for daytime newscasts. He enjoys reading, writing, and spending time with his wife, Jeni, and newborn daughter, Lucy, at their home in Sartell. To learn more about Gruber, head to about.me/logangruber