Johnson County continues to score a triple when it comes to earning top bond ratings, leading to competitive interest rates on approximately $39 million in bond issues for five capital projects.

On Aug. 10, the county received AAA ratings from all three bond rating agencies – the highest possible rating – due to its strong financial standing.

“The continuation of our Triple AAA rating means lower interest rates for county government and savings for our taxpayers,” Chairman Mike Kelly said. “These public capital investments will grow our environmental sustainability, public safety, library services and economic development.”

Johnson County has maintained a “Triple AAA” bond rating since 2009.

Bond ratings from Standard and Poor’s Global Ratings, Fitch Ratings and Moody’s Investors Service help determine the ease with which the county can borrow money and the interest rates it pays.

Two series of General Obligation Internal Improvement Bonds, totaling $16,840,000, were approved for airport land acquisition and Phase 1 improvements for development of the New Century Commerce Center.

About $22 million in two Lease Purchase Revenue Bonds were issued for four projects, including:

• $15,815,000 with approximately $3 million for the recently opened Household Hazardous Waste Facility in Overland Park, roughly $3.5 million for the Lenexa Med-Act Facility set to become operational in the first quarter of 2024 and almost $9.9 million for the Olathe Med-Act Facility now in the design phase with targeted completion by the third quarter of 2025.
• $6,465,000 for the Merriam Plaza Library, under construction and expected to open in the second quarter of 2024.

The bond rating agencies cited the county’s strong economy and financial operations, established fiscal policies and manageable debt burden for scoring the latest bond issues at AAA.