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Lower Interest Rate for Monrovia Bond; Christmas Tree Lighting, Parade; Santa Touring Times

In his weekly report, City Manager Olive Chi reports that ...

~ The bond-rating agency, S&P, has this past week assigned Monrovia's proposed $115 million bond (to cover unfunded retirement costs) a rating of AA-, its fourth highest rating, giving the bond a "High Grade" rating, meaning Monrovia can borrow money at a lower interest rate. Also, the city as a whole has been assigned an AA rating, S&P's third highest rating.

Chi said, "This is a terrific accomplishment for the City, and our entire community should be proud of the achievement!  It wasn't that long ago that securities from the City were considered lower medium grade investments in the BBB- to BBB+ range."

Here is S&P's rating report for Monrovia:

~ On Thursday, Dec. 7, at 6 p.m., the Christmas Tree Lighting Ceremony will be held in Library Park, followed by the Holiday Parade at 7 p.m. The parade will travel north on Myrtle from Chestnut to Palm.

~  Santa will tour Monrovia in a fire engine, accompanied by other city vehicles. Here's the schedule:

  • Monday, Dec. 18, south of Huntington, west of Myrtle.
  • Tuesday, Dec. 19,  east of Myrtle and north of Foothill.
  • Wednesday, Dec. 20, west of Myrtle and south of Foothill to Huntington.
  • Friday, Dec. 22, west of Myrtle Avenue and north of Foothill.

For more information, please contact the Police Department at 256-8000.

~ You should be getting the Monrovia Today winter brochure in your mailbox on November 30, but if you'd like an early peek:

~ This Wednesday and Thursday, Nov. 29 and 30, concrete panels on Foothill at Acacia and Melrose that were removed during the recent sewer improvements will be replaced. Foothill will be reduced to one lane in eac direction while the concrete is placed and cures.

~ In the next few weeks the city will be installing at Kiwanis Park at Grand Avenue fencing, lighting, tables, bike racks, trash cans, benches, better watering, a Christmas tree, and a new Samson Bear, which has been ordered by the Kiwanis Club and is being painted.

- Brad Haugaard

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