On November 4, 2024, Moody’s Investor Services upgraded Cookeville, TN’s bond issuer rating and outstanding General Obligation Bonds to Aa1 from Aa2. The City of Cookeville requested the rating on it $10.0 million General Obligation Bonds, Series 2024 which were concurrently rated by Moody’s as Aa1.
According to City Manager James Mills, “the City is very pleased to receive a rating upgrade. This is a great accomplishment for the City and its citizens. The strength of our local economy, the importance of a diverse tax bas and maintaining strong fund balances was instrumental in this rating upgrade.”
Mayor Laurin Wheaton spoke to the news by saying, “We are blessed to have excellent management by Finance Director Brenda Imel and City Manager James Mills. As long as I’m your Mayor, I will continue to help keep our taxes low, budget conservatively and drive tax base expansion with economic growth.”
Brenda Imel, Finance Director, notes the general obligation bonds will be used for the construction of two new fire stations, complete Phase II of the E. 10th Street widening, and start the W. Stevens Street widening project. “This report is the most definitive proof you can get in the bond market that the City of Cookeville is a good steward of the public’s money and is good news for our residents. The rating upgrade demonstrates that we are fiscally responsible with the public’s dollar.”
For more information about the City’s fiscal operations, go to: www.cookeville-tn.gov/accounting.