Boone County will Improve Golf Courses After County's Fiscal Court is Advised on $4.4 Million Bond Issue
Ross, Sinclaire & Associates (RSA) is helping Boone County make improvements to the county's golf courses. RSA is serving as municipal advisor on the $4.4 million Boone County, Kentucky General Obligation Bonds, Series 2018, rated Aaa by Moody's Investors Service.
Boone County Administrator Jeff Earlywine said the funds will be used to renovate and expand the Boone Links clubhouse and make significant improvements to the cart paths at both Boone Links and Lassing Pointe golf courses.
"Specifically, the Boone Links banquet facility will be enhanced and enlarged, digital golf simulators will be installed in the clubhouse and a miniature golf course will be constructed," Earlywine said. "In addition, major rehabilitation of golf cart paths at both of our courses will be completed. The broad goals of the improvements are to position our courses for long term sustainability and success by improving our facilities and generating more non-golf revenue during winter months."
Boone County's bond credit rating was upgraded on Dec. 5 from Aa1 to Aaa, positioning the county as the only local government - city or county - in Kentucky to have earned the highest possible credit rating.
RSA Financial Advisor Dwight Salsbury, who advised Boone County on the bond issue, said the upgrade will save county taxpayers approximately $115,000 on the $4.4 million bond issue.
"When a local government manages its finances as well as Boone County, the cost of borrowing money decreases," Salsbury said.
Only a small percentage of governments nationwide have achieved a Triple-A bond rating, Earlywine said.
"This is outstanding news for our residents," said Boone County Judge-executive Gary Moore. "The upgrade will result in a direct savings to the taxpayer with our upcoming bond sale. This long-sought after rating upgrade is a validation of our fiscal management and disciplined spending practices.
-Photo from boonecountygolf.com