City of Bee Cave Earns AAA Rating for Public Safety Building Financing
The City of Bee Cave is proud to announce it has received a AAA credit rating—the highest possible—from national rating agency, Standard and Poor’s, for its issuance of certificates of obligation to help fund a new public safety facility. The new facility will serve as a joint headquarters for Bee Cave Police Department and Lake Travis Fire Rescue.
This marks the first time the City of Bee Cave has received a credit rating, and notably, it achieved the highest rating possible on its initial evaluation. Only 39 cities in Texas hold a AAA rating from Standard and Poor’s for their tax-backed debt, making this recognition especially significant. The top-tier rating reflects the city’s strong financial management, and it also results in substantial savings for taxpayers by qualifying the city for the lowest possible market interest rates on the certificates and any future borrowings.
The city’s healthy tax base and budget performance were cited as key factors in the rating assessment. The city maintains a 12-month general fund reserve to buffer against economic fluctuations.
“We are pleased that the city's fiscal discipline and strategic planning have been recognized with this rating,” said City Manager Julie Oakley. “This financing allows us to move forward with a much-needed public safety building while maintaining our commitment to low taxes and strong financial stewardship.”
The new public safety building is part of the city’s long-term plan to ensure essential services keep pace with community growth while maintaining Bee Cave’s high quality of life.