The Village of Corrales got good news from Wall Street recently. The bond rating for the village was increased to Aa3 by Moody’s Investor Services, according to a report from village officials. “That is directly related to the strong financial health of the village due to the efforts of the previous administration and to the staff and employees of the village. Corrales is blessed with dedicated employees who work as a team to be most effective for the community and get the job done,” said Mayor Jim Fahey.
The Aa3 rating is considered “high quality” by Moody’s. The ratings are an assessment of the municipal government’s ability to repay bonds. Higher ratings generally mean the village can secure better rates on the markets, saving taxpayers more money on the repayments.
Gonzales property purchase almost complete
The ink is not quite dry on the village purchase of the former Gonzales property in the middle of Corrales, but that isn’t stopping Mayor Fahey from seeking public input on how it would be used.
According to the mayor, the city has signed a purchase agreement for the property and the final sale should be complete soon. “Start thinking about what you would and would not like to see on that property and relay that information to your representatives on the council. It will take at least 3 months to clear all the hurdles for purchase, but the village is optimistic it will go through,” the mayor wrote in his regular update to constituents.