For local governments, a higher credit rating can mean substantial savings for taxpayers and more flexibility to invest in community infrastructure, parks, public safety, transportation and other essential facilities.

Chandler was recently showcased as a national model for best practices by the National League of Cities during a session that offered practical advice on how cities can improve their credit profile and secure better interest rates on tax-exempt bonds, according to a news release.

Chandler’s deputy city manager and chief financial officer, Dawn Lang,  along with Daniel Golliday of S&P Global Ratings, each shared insights on fiscal strategies and criteria that influence municipal bond ratings.

Chandler has been "AAA "-rated by all three bond rating agencies on its general obligation bonds since 2010. In 2023, Chandler became the first Arizona city to earn that same top rating from all three bond rating agencies on its excise tax revenue obligations as well, the release states.

This achievement is the byproduct of decades of strategic planning and economic development, along with the creation and adoption of financial policies kept in place by the Chandler City Council, which guide the city’s budget and financial management practices, the city claims. 

One of Chandler’s key financial principles has been building reserves that can be accessed during economic downturns.

Collaboration with the Arizona League of Arizona Cities and Towns has helped to improve bond security for cities across the state, the release states.

A set of four bond questions will be asked of voters on Nov. 4 of this year, giving Chandler voters the opportunity to authorize the issuance of as much as $475 million in general obligation bonds to fund multiple projects over time, including new projects and improvements to aging infrastructure in the areas of parks, recreation, fire, police and streets.

As more cities across the country work to strengthen their financial footing, Chandler offers a clear example of what’s possible when local governments plan ahead and stay the course, the release states. This success is something that other cities, towns or villages can achieve through strong and disciplined financial management practices. 

We invite our readers to submit their civil comments on this topic. Email AZOpinions@iniusa.org.