Good News for Patchogue Village Homeowners!!

Patchogue Village Bond Rating Elevated to AA

As a result of good fiscal policy, our current Patchogue Village Government has managed to keep our village indebtedness down to a minimum, by applying for funds that are available to local governments, for improvements in infrastructure. As a result of this, and many other prudent actions, the taxpayer has contributed little or nothing, to pay for the many wonderful community projects that are now either completed or in progress!

Since Paul Pontieri and his current slate of Trustees took office, the Patchogue Village Bond Rating has been elevated from what was considered to be slightly above a Junk Bond Rating, to a coveted Rating of AA

What effect does this rating have on us, the general populous? If our Village had to apply for any type of Bond, the interest rate would be reasonable. In today’s current lending environment, money may not be available to municipalities with a low Bond Rating. It is a common practice to charge municipalities astronomical interest rates, if they have a less than perfect Bond Rating. Our "Standard & Poors" AA Bond rating, will reflect a substantial monetary saving, when it filters down to the homeowner.

Is this Good News? Absolutely!

Kudos to our Mayor, Paul Pontieri, Trustees: Gerald J. Crean, Joseph P. Dean, Lori B Devlin, John A. Krieger, and Stephen J. McGiff, Deputy Mayor. Our thanks also go to Patricia M. Seal, Christopher P. McGuire, and Ronald M. Krawczyk for their part in cultivating this coveted AA Bond Rating.

It appears that Santa Clause has just arrived in Patchogue Village!

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