Earlier this week, Tualatin Valley Fire & Rescue (TVF&R) announced that its credit quality rating remains the highest possible — AAA. The District was recently evaluated by Moody’s Investors Service in preparation for an upcoming capital bond sale.
Moody’s noted that TVF&R continues to demonstrate prudent management and maintain its strong financial position. The strong credit rating will help maximize taxpayers’ investments when the District sells its first round of bonds approved by voters last November. Qualifying bond underwriters will then compete for the bonds by submitting interest rate proposals.
TVF&R Fire Chief Deric Weiss said, “Receiving the AAA rating ensures our taxpayers will receive the lowest possible interest rate for bonded debt. It also serves as affirmation that we’re managing our operations in a manner that best serves our residents.”
With approval of Measure 34-308, voters authorized TVF&R to issue $122 million in general obligation bonds for emergency services. Bonds will fund several projects throughout TVF&R’s 390-square-mile service area, including:
- Rebuilding the King City fire station.
- Relocating the Aloha fire station to a more central location for local and regional response.
- Replacing response vehicles as they reach the end of their usable life, including fire engines, trucks, and medical vehicles.
- Funding fire station projects, including seismic upgrades, security features, expansions, or living quarter modifications at 10 of 29 stations.
- Funding safety upgrades for TVF&R’s training center where responders practice fire suppression, emergency medical care, technical rescue, hazardous material response, and other emergency skills.
- Purchasing land for future fire stations in areas where growth is expected to occur.
Weiss added, “We are incredibly thankful for the community’s support, and we remain committed to being transparent and accountable. We will continue to work hard to care for our community and the resources entrusted to us.”
For complete information on the District’s finances, visit www.tvfr.com.
