Standard & Poor's Ratings Services assigned its 'AA' long-term rating, and stable outlook, to the village of Evergreen Park, Ill.'s series 2010 general obligation (GO) bonds. As a home-rule community, Evergreen Park is not subject to property tax caps and has access to a wide variety of revenue sources. The village's diverse revenues include property taxes, accounting for 28% of general fund revenues, and state sales tax collections generating another 20%. The village has the ability to levy home-rule sales, utility, and telecommunications taxes and currently is imposing a home-rule sales and telecommunication tax. These taxes generate millions of dollars in revenues for the village. Additional factors that support the credit rating include the village's: Participation in the Chicago metropolitan...
Companies mentioned in this report are:
- Evergreen Pk Vill
Action: New Rating
Action: Outlook: Stable
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