Raise taxes? We didn't mean that
It wouldn't have been a total shock had Hamilton County's credit rating slipped after it spent $12 million of its reserve money on inmate housing fees, lawsuit settlements and elections equipment since 2006. However, the county made a ton of changes in the past 16 months and made a strong case to Moody's Investors Service and ended up salvaging its financial rating (read the Moody's report here).
"We were hopeful we would not be (downgraded) but we had to make a very very strong case to Moody’s," said County Administrator Patrick Thompson. "A lot of work went into preparation for it and they saw that."
County officials were thrilled that they get to keep their Aa2 rating and are off the "watch list."
Worth noting in the county's presentation are several potential revenue builders that the county said it could implement if needed. Check out page 58 of the county's presentation to Moody's
Commissioners, though, insist they do not intend to actually enact those taxes and fees.
"All those are are lists of all the various measures that the county has access to. It is not a proposal nor is it intended to be a proposal," said Commissioner Todd Portune. "Moody’s want to know what are all the things in your arsenal from soup to nuts."