Upgraded Bond Status
The City of Gig Harbor has been upgraded on two separate bond ratings. The rating increase will mean a significant savings over the years to the city and its rate payers.
On March 1st, Moody’s Investors Service upgraded the General Obligation Limited Tax (GOLT) bond ratings on Gig Harbor. Moody’s raised the City’s GOLT bond rating from Aa3 to Aa2. Factors that could lead to an upgrade include strong operating performance with a trend of surpluses to boost the reserve position and improvement in general credit. Secondly, on March 7th, the city’s water and sewer bond rating was raised on S&P Global Ratings to AA from AA-. This increase in the rating is based on a criteria rating for the water and sewer system showing very strong enterprise risk and financial risk profiles. Other factors include location in the economically diverse Pierce County service area with above –average income levels and proven track record of maintaining good liquidity. The report from Moody’s and S&P Global Ratings is available at www.cityofgigharbor.net.
“This has been a team effort on behalf of the staff, administration and city council,” says Ron Williams, City of Gig Harbor Administrator. “Finance Director Dave Rodenbach and the entire staff have demonstrated professional and conservative management and a well-planned capital program in order to make the case for the higher bond ratings,” Williams said. “The Mayor and City Council have insisted on adequate reserves and conservative financial policies which have paid off with these higher ratings.”
Summer Sounds at Skansie 2017 Lineup
Gig Harbor has announced the lineup for Summer Sounds at Skansie 2017. The popular and free outdoor concert series begins on June 27th and runs on consecutive Tuesdays until August 15th at the newly renovated Skansie Brothers Park. The new Welcome Plaza at the park hosts expanded restroom facilities along with a second floor viewing plaza. All concerts start at 6:30 pm and are held rain or shine. The concerts are sponsored by CHI Franciscan Health and Harbor Hill.
Returning in 2017 is the popular restaurant delivery service to the park by Gig Harbor’s favorite downtown eateries. Concertgoers are encouraged to ride the Gig Harbor Trolley and bring lawn chairs and blankets. Gig Harbor parks are non smoking and alcohol free parks. For best viewing, only small umbrellas are permitted, and please be respectful of your neighbors. Please note: Chairs may be moved if necessary for set up and safety, and set up of chairs is allowed beginning at 7am each day of event.
2017 lineup:
* June 27 The Dusty 45’s www.dusty45s.com
* July 4 133rd Army National Guard Band www.music.army.mil
* July 11 Wally and the Beavs www.thewallys.net
* July 18 The Beatniks www.thebeatniks.com
* July 25 Jessica Lynne www.jessica-lynne.com
* August 1 Bobby Sox and the Jukebox www.funaddictsband.com
* August 8 The David Correa Group www.davidcorreaandcascada.com
* August 15 Ranger & the ‘Re-Arrangers’ www.rangerswings.com
– Gig Harbor, Washington’s Maritime City
