Op-Ed: Possibilities endless in the new year
Junior golfers honored at Troon event
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peoriatimes.com
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January 6, 2022
Peoria’s Hometown Newspaper
INSIDE
This Week
FEATURES..... 16 Glendale chef leaves Microsoft to sell pastries
RELIGION...... 22 If something goes without saying, let it
OPINION...................... 8 BUSINESS.................. 12 SPORTS...................... 14 FEATURES.................. 16 RELIGION................... 22 CLASSIFIEDS.............. 24
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Peoria awarded for strong financial management BY PEORIA TIMES STAFF
Moody’s Investors Services and the Government Finance Officers Association have recognized the city of Peoria as one of the most fiscally sound cities in the Valley. Peoria was awarded a AAA bond rating and association’s Distinguished Budget Presentation Award. “The AAA bond rating is the highest rating available, and I am thrilled that Peoria has been recognized for its strong financial and economic performance,” Mayor Cathy Carlat said. “Peoria’s discipline in adhering to its Principles of Sound Financial Management assures transparency, protection and oversight. This rating is a great value to Peoria residents, as it allows us to
leverage superior financial terms as we provide the infrastructure and amenities that make our city great.” In November, Moody’s Investors Services upgraded the ratings on the city’s outstanding general obligation bonds from Aa1 to AAA. Moody’s cited “material growth in Peoria’s tax base well exceeded prior expectations and strong economic performance as evidenced by growing population, expansion of employment, and substantial development” as reasoning for the upgrade. Moody’s also noted the conservative management and budgeting and the robust financial policies of the city that have resulted in “substantial strengthening of the city’s financial position.” On Dec. 9, the city of Peoria closed its
bond sale. Given the city’s AAA rating, Peoria issued $55.9 million in general obligation bonds for a true interest cost of 1.65%. This is the lowest interest rate on new bonds for Peoria in 20 years. Also, the city of Peoria received the Distinguished Budget Presentation Award for its fiscal year 2022 budget document. This is the 24th consecutive year the city has received this award and the 29th time overall. According to the association, the award reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. “The bond rating and award are a reflection of the city’s commitment to conservative and responsible financial SEE FINANCIAL PAGE 3
Peoria introduces Day of Service for MLK Day BY PEORIA TIMES STAFF
In celebration of the legacy of Martin Luther King Jr., the city of Peoria will be hosting its first MLK Day of Service on Saturday, Jan. 15, 2022, at the Peoria Community Center, located at 8335 W. Jefferson Street. “This year we wanted to honor Martin Luther King Jr. by creating an event that brings the community together in service of others,” said Chris Hallett, Peoria director of neighborhood and human services.
“The MLK Day of Service is the chance for Peoria residents to connect, access needed services, celebrate diversity and help their community.” From 10 a.m. to 2 p.m., the city has invited a variety of health and wellness organizations and local community assistance groups to showcase their services for residents. The Franchise Band will be the featured entertainment, along with other multicultural entertainment and activities. Chaz Jackson, the president of the Arizona
Chapter of the Buffalo Soldiers of America, will kick off the event at 10 a.m. There will be volunteer opportunities, food trucks, a storytime by First Things First, free books for children, service providers and community resources. The onsite clinic will also provide vaccines for COVID-19, flu, pneumonia and shingles for adults and children. For more information about the MLK Day of Service, visit peoriaaz.gov/events or call 623-773-7436. PT
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