On Wednesday, Dec. 26, the Oak Brook Park District received official notice that Moody's Investor's Service assigned the park district an Aaa rating with a stable outlook. This is the highest rating available, indicating the sound financial strength, healthy operating reserves, low debt and pension burdens, and the overall stability of the Oak Brook Park District.
According to a press release issued by Moody's, "The stable outlook is indicative of our view that the district will maintain a healthy financial position due to the strength of its tax base, and demand for its services.”
Oak Brook Park District residents approved the issuance of $17.9 million in general obligation bonds during the Nov. 6, 2018 election and authorized the park district to purchase and improve the 34-acre property commonly knowns as “McDonald’s Fields.” The park district sought a bond rating in order to obtain the lowest interest rates possible when issuing the voter approved bonds.
“Our board and staff prioritize fiscal responsibility and are committed to sound financial planning and policies. This outstanding news will help us secure our residents’ investment in open space and move towards implementing their vision for the community,” said Oak Brook Park District Executive Director Laure Kosey.