COTTONWOOD -- The Cottonwood City Council in mid-July approved a loan to refinance its 2007-GADA bonds at an interest rate that will save taxpayers nearly $1.5 million. The bond rating service, Standard and Poor's has given the new bond series an "AA-" rating. As defined by S&P: "An obligation rated 'AA' differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitment on the obligation is very strong."
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