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259 <br />SPECIAL COUNCIL MEETING OCTOBER 3, 1988 . <br />that if the lots are sold quickly this is possible. He also <br />explained that Moodys does not like temporary bond issues <br />because there are so many variables involved. <br />Mr. Bisel asked why the bond rating of the City has changed. <br />Mr. MacGillivray said the rating depends on several <br />variables including debt ratios and how much debt the City <br />is carrying. A bond rating of BAA1 is what he would expect <br />a city like Lino Lakes to carry. It is a form of credit <br />rating and is a measure of the wealth of the jurisdiction <br />and its ability to pay. <br />Mayor Benson asked if there <br />commercial growth is this a positive factor for credit <br />ratings. Mr. MacGillivray said definitely. <br />is a substantial increase in <br />Mr. Bisel moved to adjourn at 7:30 P.M. Mr. Reinert <br />seconded the motion. Motion carried unanimously. <br />