The City of Stanwood works to provide clear, transparent, useful information about City projects, programs, and processes. We enjoy helping our residents understand what we are working on, why, and how it helps residents. We do this through social media, news releases, events, community involvement, and meetings.
Under the direction of the City Administrator, the Communications Department duties may include:
- Establishing and administering a citywide public information program
- Managing and oversight of city social media accounts
- Managing and oversight of the city website
- Producing city newsletters and other publications
- Producing news releases
- Media liaison to news outlets
- Managing Technical Services
- Graphic Design
CITY OF STANWOOD
Contact: Elizabeth Callaghan, Mayor
FOR IMMEDIATE RELEASE: October 6, 2021 _______________________________________________________________________________________________________________________
STANWOOD - Stanwood Achieves AA- Rating and Saves Money
The City of Stanwood (the “City”) recently issued Water & Sewer Revenue and Refunding Bonds to finance water and sewer improvements and refinance the City’s 2011 Bonds to achieve interest cost savings. As part of the bond financing process, the City presented information to the national rating agency of S&P Global Ratings.
According to Interim City Administrator Shawn Smith, “the City received a rating of AA-. This is a great accomplishment for the City and its ratepayers! This rating of AA- reflects that the City is well-managed and has good financial practices and policies in place for the benefit of our citizens. The higher the rating, the lower the interest cost.”
Mayor Elizabeth Callaghan went on to say, “we are proud to achieve the rating of AA- for our community! City staff have worked very hard on this process.”
According to Accounting Manager Wendy Dowhower, “the rating of AA- was based on the following key factors: 1. Demonstrated track record of strong financial reserves; 2. Strength of the local economy; 3. Financial practices and policies; and 4. Experienced management in operating the utility system in an efficient manner.”
The presentation team prepared for a 1.5-hour conference call with rating analysts from S&P Global Ratings. The presentation team included: Interim City Administrator/City Engineer Shawn Smith, Accounting Manager Wendy Dowhower, Public Works Director Kevin Hushagen, and Bond Underwriter Jim Nelson of D.A. Davidson & Co. The team presented information and answered questions that dealt with the topics of management, finances, economic growth, and long-term planning.
The Water and Sewer Revenue and Refunding Bonds were priced on September 22nd by D.A. Davidson & Co., serving as Bond Underwriter. The 20-year Water and Sewer Revenue and Refunding Bonds achieved a combined True Interest Cost percentage of 1.77%. The City timed the new money and refunding bond near an interest rate low. The new money bonds financed water & sewer capital improvements of $4,503,999. The refunding bonds achieved total net savings of $281,972 (over the remaining 10 years). After October 6th, the City will have the additional benefit of liquidating a $199,000 bond reserve fund associated with a 2019 Water & Sewer Revenue Bond.
Wendy Dowhower explained “to take advantage of the current low interest rate market, the City is refinancing the 2011 Water & Sewer Revenue Bonds (which were issued in 2011 for the purpose of financing water & sewer capital improvements and funding a Bond Reserve Fund, at an interest rate 4.00%)”.
PRESS RELEASE ARCHIVES
Stanwood Achieves AA- Rating and Saves Money
City Offices Are Open to the Public
SR 532 Bypass Virtual Open House
The City of Stanwood Prepares to Reopen Buildings to Public
On-Line Permitting Now Available
New Playground Equipment Install at Church Creek Park
Cancelation of 2020 National Night Out Block Party
City continues precautions for Novel Coronavirus (COVID19) and planning for Re-Opening of some City Services
City Continues to Take Precautions for Novel Coronavirus 2019 3-26-20
City Continues to Take Precautions for Novel Coronavirus 2019 3-24-20
City Continues to Take Precautions with Novel Coronavirus 2019 3-19-20
City Office Close to Public 3-17-20
City Services Reduced 3-11-20
City to Declare State of Emergency 3-9-20
Declaration of Emergency 3-9-20
Coronavirus Precautions- Meetings Canceled 3-6-20
City of Stanwood. 10220 270th ST NW, Stanwood, WA 98292