On Monday evening, Kim DeRenard of the Purchase Area Development District (PADD) mentioned in passing that the Clinton sewer application may be delayed because Kentucky’s bonding status is now negative.
According to state officials, Moody’s and Poore’s bond rating service adjustment has put Kentucky into a new negative status. In short, our credit is bad.
Tony Wilder, head of Department of Local Government is scheduled to discuss the issue tomorrow with the Kentucky County Judge Executives at their conference.
What is in doubt is the effect on projects that need to be bonded – that is most road, sewer, water and government buildings (including schools). House Bill 608 passed last session was chock a block with new local projects. According to our sources, those projects rely on government bonding. |
