Search Press Releases

Press Release Archive

Press Releases

  |   Views: 9687

City Water and Sewer Revenue Bonds Upgraded to Aa1 by Moody’s Investors Service

The Lee’s Summit Water Utility’s water and sewer bonds were recently upgraded to Aa1 from Aa2 by Moody’s Investors Service. The new Aa1 rating is assigned to the City’s $2.5 million of rated debt outstanding. Moody’s cited the Water Utility’s “high debt services coverage ratios and healthy liquidity due to strong management practices” as among the factors considered in the rating, noting the “affluent service area wealth indices, stable customer base, and low debt burden.”

The April 11 rating signals the strength of the Water Utility’s financial policies and practices, long term planning, and its ability to meet financial obligations, “Debt service coverage was very strong in 2017 at 14.4 times and should remain strong through the bonds maturity date of 2021,” commented Moody’s.

“We have worked diligently to improve the Water Utility’s financial strength which is evident in Moody’s rating of Aa1; a significant climb from the A1 received in 2001,” said Director of Water Utilities Mark Schaufler. “This rating is indicative of our solid financial position obtained in part, by implementing performance measures and financial practices recommended by our customer-driven Water Utility Advisory Board.”

Moody’s Aa1 rating is also attributed to the utility’s strong operating margins and sound infrastructure. The Water Utility has made strategic investments in system renewal while maintaining water and sewer customer rates slightly below the average for the metropolitan area. Projects such as the replacement of 14 miles of water main and the rehabilitation of sewer lines ensure that residents have reliable water and sewer services that meet the needs of a growing community. According to Moody’s, the utility’s water supply capacity is sufficient to meet the city’s needs through late 2030s before additional capacity is needed to accommodate customer growth.

Operationally, the Water Utility received an almost perfect Insurance Service Organization (ISO) Public Protection Classification rating (38.6 out 40 points possible). This is a measure of the water supply system necessary for fire suppression purposes and is used by insurance companies to determine insurance premiums for commercial and residential properties.

For additional information regarding Lee’s Summit Water Utilities visit LSwater.net or call 816-969-1900.

Print

Latest Press Releases

Jackson County Tax Payments

Jackson County Tax Payments

Lee’s Summit City Hall is accepting Jackson County property, business and real estate tax bill payments. Payments can be made at Treasury, located in the lobby of City Hall, 220 SE Green St. Treasury is open from 8 a.m. to 5 p.m. Monday through Friday with extended hours of 7 a.m. to 6 p.m. Dec. 27, Dec. 28, Dec. 29, and Dec. 30. Taxpayers may also place bill payments in one of the City’s drop boxes, located outside the north entrance to City Hall or in...
Fire Damages Greenwood, MO Home
Fire Damages Greenwood, MO Home

Fire Damages Greenwood, MO Home

LEE'S SUMMIT, MO -- On November 6, 2021 at 2:02 p.m. the Lee’s Summit Fire Department responded to a reported structure fire in the 1900 Block of West Elm Street in the City of Greenwood. A neighbor and the occupant reported the fire. The house was being evacuated. When the fire department arrived, heavy smoke and fire was coming from the bedroom area of a one-story, single-family residence. All occupants were outside. Fire crews entered the...
Don't Forget to Set Your Clocks Back on Nov. 7 and Something Else....
Don't Forget to Set Your Clocks Back on Nov. 7 and Something Else....

Don't Forget to Set Your Clocks Back on Nov. 7 and Something Else....

Daylight Saving Time ends on Sunday, November 7, at 2 a.m. As we set our clocks back, take the time to also change the batteries in your smoke alarms. Check the date on your alarms to make sure they are not more than ten years old, and replace them if they are. Smoke alarms save lives, but only if they work!

Lee’s Summit's Downtown Market Plaza Public Meetings Set for Oct. 25
Lee’s Summit's Downtown Market Plaza Public Meetings Set for Oct. 25

Lee’s Summit's Downtown Market Plaza Public Meetings Set for Oct. 25

The City of Lee’s Summit and Biederman Redevelopment Ventures will hold three public meetings on Oct. 25 at The Stanley Event Space, 308 Southeast Douglas Street, to receive feedback on the types of programming and activities the community envisions as part of the Downtown Market Plaza redevelopment project. The meetings will be one hour in length and will begin at 11 a.m., 2 p.m. and 5:30 p.m.

The Lee’s Summit Fire Department reminds residents to “Learn the Sounds of Fire Safety™” for Fire Prevention Week
The Lee’s Summit Fire Department reminds residents to “Learn the Sounds of Fire Safety™” for Fire Prevention Week

The Lee’s Summit Fire Department reminds residents to “Learn the Sounds of Fire Safety™” for Fire Prevention Week

The Lee’s Summit Fire Department is teaming up with the National Fire Protection Association® (NFPA®)—the official sponsor of Fire Prevention Week for more than 90 years—to promote this year’s Fire Prevention WeekTM campaign, “Learn the Sounds of Fire SafetyTM.” This year’s campaign, October 3-9th, works to educate everyone about simple but important actions they can take to keep themselves and those around them safe....
1345Last