December 31, 2011

The Top 10 Stories of 2011: No. 2 - Tax Rate Goes Down - Vernon, CT Patch

The Top 10 Stories of 2011: No. 2 - Tax Rate Goes Down - Vernon, CT Patch: Vernon Patch is taking a look back at 10 stories that sum up life in town during 2011.

Here is No. 3 - Taxes

Vernon Patch is taking a look back at 10 stories that sum up life in town during 2011.Here is No. 3 - Taxes.So those tax bills that just came in the mail? Check out the bottom line. That number should be lower than the previous bill. That's because the tax rate dropped from the 2010-11 level of 30.02 mills to 29.9 mills for the 2011-12 fiscal year.The current $79,293,749 budget represents an increase of $572,290 - or .73 percent - over the 2010-11's $78.7 million spending package. Education accounts for $47.4 million, down .2 percent; general government $25.5 million, down .38 percent; and debt service $6.2 million, up 13.96 percent.

Face the State Connecticut Mayor McCoy on Connecticut Light and Power's ...

December 26, 2011

Face The State Live- Winter Storm Alfred Aftermath - Connecticut Mayors and Congressman

 

December 9, 2011

Zahner's Clothiers: Jason McCoy is being fitted to a made to measure s...

Zahner's Clothiers: Jason McCoy is being fitted to a made to measure s...: Rick Riccio, the salesperson for Skip Gambert Shirts, and Scott Zahner are doing the measuring. The Skip Gambert Company is located in New J...

November 8, 2011

Fox Video CL& P won't get wires off roads in Vernon Connecticut

Fox Video CL& P won't get wires off roads in Vernon


http://www.ctnow.com/videogallery/65853081/News/Vernon-Could-Be-In-Crisis-After-Storm 

Mayor: CL& P Not Much Help As He Tries To Cope

Vernon's Mayor: CL&P Isn't Much Help As He Tries To Cope
November 03, 2011Rick Green
"VERNON — — Day five of the Halloween storm disaster, and this is Mayor Jason McCoy's life: Generators at the sewer plant and water company are about to blow, the emergency shelter is almost full, two dozen streets are still blocked, and lines are down at more than 200 locations.


"There have been more than 500 calls from residents about trees or wires in the road.
If there's no generator at the water plant, there's no water in homes. If the generator fails at the sewer plant, sewage will back up into houses, more than 90 percent of which were still without power Thursday afternoon.
On Thursday evening, the town council held an emergency session to approve a $420,000 appropriation from an emergency fund to help pay for the emergency.
But what's his biggest problem?
It's getting Connecticut Light & Power to answer his questions."
"They can't give you any answers to any questions,'' said McCoy, a lawyer who is leaving office to make a long-shot run for U.S. Senate. "We've got people trapped in neighborhoods. My biggest frustration is we are not able to do what we need to do."
It's not hard to understand McCoy's frustration. When I asked CL&P Chief Operating Officer Jeffrey Butler about this problem at a press conference Thursday evening, he responded, "There have been issues."
Yes, we can all agree on that one.
In a town office on Thursday I listened as McCoy tried to explain to the town's liaison from CL&P that power for the water company is a bigger priority than finding electricity on Election Day. Meanwhile, a restaurant owner on Route 83 called in to complain that the power outage is bankrupting him.
This is the new reality for administrators such as McCoy in the towns hard hit by last Saturday's snowstorm. A politically ambitious and outspoken Republican, McCoy told me he can't believe the most basic needs of his community, like removing all downed trees and wires from blocked roads, aren't being met.
Before a tree that's resting on wires can by cut up and removed, a CL&P crew has to make sure the wires aren't live. McCoy said he's been unable to get CL&P to come to the streets that remain blocked.
I rode with McCoy and Fire Chief William Call out to the Merline Road neighborhood, where massive oak trees, entrangled in utility wires, barricaded the roads. I could see why a house fire could be a disaster.
"Here's a whole neighborhood where we can't get a firetruck or an ambulance through,'' Call said as McCoy added that this was one the two dozen locations that he said were a priority. Near Seneca and Irene drives we find homeowners cutting wood and the constant hum of generators. McCoy and Call worry that with the wires on lawns, streets and sidewalks, and sagging from poles, residents are no longer taking the danger seriously."


""We've been trapped in our house since Saturday," Suzanne Thrall told McCoy when we walked by her house. "We can't even get a contractor or an insurance adjuster up here."
"Every time I call CL&P I get different stories," Thrall tells McCoy. "We say we should be on a priority list because we are trapped. They say there is no priority list.''
We moved on and listened to complaints from other neighbors, all of them astonished that their streets were still blocked — not to mention their houses still dark — five days after a snowstorm everyone knew was coming.
On Thursday, Vernon's CL&P liaison told McCoy that she had expected repair trucks to be all over town by now, which made him laugh when he told me the story. It's a tale McCoy chose not to tell when he spoke to residents camped out at the town's middle school later in the day.
Over at the middle-school-turned-emergency-center, where 200 people are sleeping on cots and hundreds show up to eat, drink a cup of coffee or join a bingo game, McCoy stood on a table and told the crowd he didn't expect all power to be restored until a week from Sunday. That's seven days after CL&P's prediction of full restoration.
"The shelter will be open until we can get everything working,'' McCoy said. "We are trying to do the best we can for you."
Right now, that's nowhere near enough.

August 5, 2011

Connecticut Mayor McCoy poised to make a U.S. Senate run; will decide whether to enter the race by the end of the month - Capitol Watch


Connecticut Mayor McCoy poised to make a U.S. Senate run; will decidewhether to enter the race by the end of the month


Mayor McCoy with his Son and Daughter 
Mayor Jason McCoy knows it would be an enormous jump to go from running a town of about 46,000 people to joining the World's Most Exclusive Club.

But he says the knowledge he gleaned as mayor of Vernon would help him immensely as a U.S. Senator. The 40-year-old Republican is exploring a run for the seat currently held by Se. Joseph Lieberman.

 "I think it's important that people who are elected to the Senate have some type of executive experience,'' McCoy said on a recent afternoon, a week or so after announcing his exploratory bid. "I have an understanding of what it takes to manage a government.''

McCoy, a married father of three, is one of the GOP's "Twitter Mayors." Like Danbury's Mark Boughton, he maintains an active presence on the social network. He also has deep roots in Vernon; his grandfather was mayor of Rockville for eight years, and McCoy himself ran three times for state representative (he was defeated each time.)

Vernon is a mid-sized suburban town with Rockville, a small city, at its core. It is, says McCoy, a microcosm of Connecticut. He is just finishing up four years as the community's mayor, a post that pays $20,000 annually. He announced last month that he would not seek reelection and will instead, focus on his exploratory Senate bid.

McCoy is a trial lawyer by profession. He described his political philosophy as fiscally conservative with a libertarian streak. When it comes to taxes and spending, he says he believes "you have to get it done with what you have.''

That's a philosophy he says employed as Vernon's mayor. During his tenure, he lowered taxes, completed bridge reconstructions and other public works projects paid for with surplus funds from other cost reductions and presided over a decrease in the crime rate.  

McCoy's relative youth -- especially for the U.S. Senate -- raises the question of whether he might want to wait a bit. "You can always wait, but experience has nothing to do with age'' he said, adding that he has received "a lot of support and encouragement" since announcing his exploratory bid.

He said he intends to decide by the end of the month whether to enter the race.

Connecticut+Mayor+McCoy+poised+to+make+a+U.S.+Senate+run;+will+decide+whether+to+enter+the+race+by+the+end+of+the+month+-+Capitol+Watch

July 30, 2011

Connecticut Mayor Announces may Explore US Senate Race But Not 3rd Term as Mayor Friday July 22, 2011



Mayor Jason McCoy on Friday said he will not seek a third term as the town's chief executive and will spend some time with his family and law practice. Then, he said, he will explore a run for the U.S. Senate.  McCoy's speech at a late-afternoon news conference was short - just 231 words - and to the point.  Here is the text of Mayor Jason McCoy's speech on Friday, when he announced he would not seek a third term as the town's chief executive.

“Good afternoon,
First let me thank the residents of Vernon for allowing me to serve as their Mayor for the last four years.
I have invited you here today to announce that I have decided to spend more time with my family, focus on my career as a lawyer, and to exploring a run for the United States Senate. Its now time I move on, I do not think I can manage the Town of Vernon, and at the same time - spending time with my family, focus on my practice and if I decide after exploring the run for the US Senate, then working towards the convention and then the election election in 2012.  Three maybe but not all four. 

In Vernon, over the last four years, we have lowered taxes, we have reduced the cost of government, we have reduced spending in real dollars, and we have changed the economic environment to promote job opportunity and economic growth while expanding the tax base.

Part of this success has been due to the election of fiscal conservatives to the Vernon Town Council and Vernon Board of Education.
Going forward, our Country needs clear direction:
• To fix the economy.

• Create job opportunities.

• Lower unemployment.

• Control spending.

• Reduce debt and borrowing.

• End over regulation of every aspect of American life that crushes American creativity, one of the symptoms of the failing economy.

And maybe someone who can say ‘no’. Ask any Mayor of First Selectman.

Finally, it is vitally import that we elect those who support our military, national security and national intelligence to protect American vested interests at home and abroad.

I want to thank the residents of Vernon for allowing me to serve as their Mayor.



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July 22, 2011

Connecticut Mayor Announces May Explore US Senate Race But Not 3rd Term as Mayor Friday July 22 2011

Good afternoon

First let me thank the citizens of Vernon for allowing me to serve as their Mayor for the last four years

I have invited you here today to announce that
I have decided to spend more time with my family,
To focus on my career as a lawyer

To explore a run for the United States Senate.

It is now time that I move onto the next level. I have done all I can do here. I cannot do more than these three things and manage Vernon, so I will be focusing on my career, my family, the convention then the 2012 election.

In Vernon Over the last 4 years, we have lowered taxes, we have reduced the cost of government, we have reduced spending in real dollars, and we have changed the economic environment to promote job opportunity and economic growth while expanding the tax base.

Part of this success has been due to the election of fiscal conservatives to the Vernon Town Council and Vernon Board of Education.

Going forward, this Country needs clear direction:
• To fix the economy
• Create job opportunities
• Lower unemployment
• Control spending
- Reduce debt and borrowing
• End over regulation of every aspect of American life that crushes American creativity which is one of the symptoms of the failing economy

And maybe someone who can say no

Finally, it is vitally import that we elect those who support our military and national intelligence to protect American vested interests at home and abroad.

I want to thank the citizens of Vernon for allowing me to serve a their Mayor

I will be making a more formal announcement in the weeks to come. But right now we are focusing on our Convention on Tuesday.


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July 15, 2011

The TALK of Connecticut - Mayor of Vernon Jason McCoy

The TALK of Connecticut: "Mayor of Vernon Jason McCoy"

He heard the most bizzare statement on the news.The governor's departments are recommensing service reductions without staff reductions.

IN OTHER WORDS - The New York Times -- "It would be too much to say that the recent election was a loud gong signifying nothing. But if it signified much, it is hard to see what."

IN OTHER WORDS - The New York Times: "It would be too much to say that the recent election was a loud gong signifying nothing. But if it signified much, it is hard to see what."

“It would be too much to say that the recent election was a loud gong signifying nothing. But if it signified much, it is hard to see what.” This was a November 7, 2007 article that was written in the Journal Inquirer by the Editorial Staff.

After that election, I called the Editor and told him I would be happy to explain what change we were working towards. At that time there was no interest. Had I had the opportunity I would have explained what I am re-capping now. In the four years since that election, we have accomplished those “changes”. I believe it is much more that a gong signifying nothing.  The Town of Vernon had come off of 16 consecutive budgets that could not pass over a four year period, each year the Town actually was operating on its reserves because it could not collect taxes without a 30 day tax warrant. Mainly that was due to failure of the government officials to examine labor, debt, pension, personal rules, waste in service delivery, waste in energy, wasteful staffing departmental collaborative efforts and spending money without assessing if that would reduce future budgets and borrowing money before paying down or retiring debt and absolutely no interworking collaborative efforts by the Town Government Administration and the Board of Education Administration. 

 For some reason prior to the 2007 election, Government Officials did not recognize that the Town of Vernon budget ultimately goes to the taxpayers for approval.

In recognition of all those issues during the past four years ever labor contract has be negotiated and re-written, the Town’s pensions have been reformed, pensions and benefits for new employees have been reformed which changes the structure of that cost, energy and fuel usage is down due to energy policies being implemented, departments now share and cross over in service delivery, the tax rate has been reduced in three budgets, taxes have been reduced for everyone in 2011, actual spending had gone down, staffing has been reduced. Access and accountability through softer ware applications and web based services have allowed instant access government officials and complaint tracking by the public. Management software application has been implemented and the financial and accounting system has been brought up to date. The municipal bond rating has been improved.

All staff replacements hired after retirements have had some type of private sector experience. Productivity has increased.

We have reduced the crime rate by 16 %- we have safer streets, we have finished 14 year old bridge projects we have safer streets, we have began a public infrastructure investment through expense reductions with new roads and a plan to complete the remaining roads - we have safer streets.

Our students scores have increased – we have better schools, we have completed our school building projects- we have better schools, we have began management of the school facilities through the municipality so the school system can concentrate on education and curriculum-- we have better schools, we have a new superintendant of schools who focuses on education and education of children but understands that taxpayers pay the bill- we have better schools.

We have cut the tax rate three out of 4 years and in 2011 we reduced taxes for every one taxpayer– we have lower taxes.

We have the safest streets, we have the best schools, we have the lowest taxes, and real spending is reduced and controlled.

This is my response to the November 11, 2007 article.

Thank you for allowing me to serve as your Mayor

Jason L. McCoy


The Journal Inquirer, Nov. 7 2007 "

July 8, 2011

Vernon Connecticut Just Imagine: $218,000 in budget reductions

By Jason L. McCoy


Imagine: $218,000 in cost reductions
I opened a recent Vernon Town Council meeting, as I have done for last two years, by giving an executive summary of where the town is, projects being worked on, events I have participated in, and general progress of the town.

I shared what I thought was great news. I informed the council that we saved $90,000 by moving non-union employees to Heath Savings Accounts; that cleaning contracts were re-bid, reducing that cost by $20,000; that we have set in motion the move to P-Cards, electronic purchasing, and implementation of permissions and codes, resulting in savings of $108,000, not to mention the time reduction spent by staff under the old process.

Imagine that: $218,000 in cost reductions.

Good news, right? Maybe a smooth night at a Vernon Town Council meeting.
Oh no, not quite.

Not a single comment, concern, or request about those savings by Councilwoman Marie Herbst and her gang.

But the Herbst gang did move to the usual innuendo and misstatements, soaring off track into a grammar school test on the definition of the word “intern,” moving on to complain about photographs at Vernon parades and events.

Really?

I want Vernon citizens to know that these savings occur because this administration pushes forward (yes, I do mean push) on a regular basis — not at the last minute, not on the day before the municipal budget is due, but regularly.

We continuously move forward on policy initiatives and changes to achieve cost reductions or savings, to spur economic growth and fiscal responsibility with your tax money.

I guess at this point it may seem commonplace under my administration, maybe even expected — and it should be. But these are not simple matters and are not commonplace in government. They require persistence, long-term planning, and careful consideration as to impacts and implications in other areas such as labor relations.

The cost reductions listed above, along with forward thinking and persistence on a regular basis over the past four years, have come in handy allowing Vernon to be ahead of the state of Connecticut’s revenue curveball thrown at every municipality around the state each year. The state’s revenue curveball has come every year when the legislature will not finalize a budget or they cannot get spending on labor to fall in line with proposed or adopted budgets, or labor concessions have not come through.

Connecticut municipality budgeting requirements do not allow municipalities to set budgets the way the state plays. This governor has made it clear that he likes the municipal budget rules as opposed to the state budget game, but I digress.

Let me point out that since being elected by Vernon citizens in 2007, I have never complained about the debt situation incurred before I took office as mayor. I handled it, budgeted for it, and made sure we paid it, while improving our credit rating; we have even reduced it, through early repayment at one point.

Why?

Simply stated, I ran for this position. I have never complained about the extremely generous union contracts that were handed out before I was elected to the 15-plus labor unions.

I have patiently waited until contracts came up for negotiation and meticulously renegotiated contracts for the benefit of Vernon citizens and the employees because the interests of both groups actually meet when you consider the future affordability.

I am proud to tell you that it looks like we saved you $218,000. If we don’t get a curveball and revenue comes in as predicted, we can accelerate capital improvements and reduce the next budget or maybe pay some debt off.

Tell those folks who polarize everything to pay attention to what counts — your services and your money.

Thank you for allowing me to serve as your Mayor.

Mayor Jason L. McCoy

July 1, 2011

Fireworks July in the Sky- June 30, 2011 | Journal Inquirer

Fireworks July in the Sky- June 30, 2011 Journal Inquirer: "Caption: Fireworks explode over the crowd gathered at Henry Park during 'July in the Sky at Henry Park' on Thursday June 30, 2011. (Leslloyd F. Alleyne / Journal Inquirer). "

Arts center breaks ground | ReminderNews

Arts center breaks ground ReminderNews: "Mayor Jason McCoy and other town and Vernon Community Arts Center officials throw dirt into the air as part of the ground-breaking ceremony for the center's reconstruction on June 30. Photos by Steve Smith"

Arts center breaks ground | ReminderNews

Arts center breaks ground ReminderNews: "Arts center breaks ground"

'July in the Sky' delivers on promise of fun | ReminderNews

'July in the Sky' delivers on promise of fun ReminderNews: "'July in the Sky' delivers on promise of fun"

May 3, 2011

Senate Democrats To Approve Gov. Malloy's Tax Hike - Courant. OUCH!!!

Senate Democrats To Approve Gov. Malloy's Budget - Courant.com: "Tax-Increase State Budget, Approved 19-17 In Senate, Goes To House Today"

Vernon Connecticut: Thoughts on the Budget - Vernon, CT Patch

April 29, 2011: Thoughts on the Budget - Vernon, CT Patch: "April 29, 2011: Thoughts on the Budget
Town officials share their thoughts after the Annual Town Meeting."

Here are five quotes on the $79,293,749 budget for the 2011-12 fiscal year approved at the Annual Town Meeting this week. The adoption of the budget at the Vernon Annual Town Meeting marks the first time in 12 years that the budget was not sent to a referendum. The budget lowers the tax rate from 30.02 mills to 29.9 mills.

1. Deputy Mayor Brian Motola: “Vernon's residents and taxpayers will be very happy with the spending plan put together by the mayor, the Town Council and the Board of Education. Taxes will not increase while services will remain intact. We took into account what Joe and Jane Taxpayer are experiencing in this economic climate and what is best for Vernon."

2. Police Chief James Kenny: “The Vernon Police department is grateful that the citizens supported the upcoming budget and we will continue to provide the best possible services to the community with the funding provided.”

3. Fire Chief William Call: "The Fire Department is very pleased that the mayor’s administration has addressed its needs, including safety equipment, uniforms and fire apparatus. We are pleased that the people in attendance at the Town Meeting overwhelmingly approved the proposed budget presented to them."

4. Superintendent of Schools Mary Conway: "I am delighted with the passing of the 2011-2012 budget at the annual town meeting. “The budget is fair and reasonable and allows the school system to maintain current class sizes and services to children in the schools. I am especially appreciative of the support and hard work of the board of education, the administrative team, the town council, and the mayor who united as a team to prepare and promote this budget.”

5. Mayor Jason McCoy: “I am very pleased that the residents and taxpayers of Vernon approved this budget with overwhelming support. With this budget, the community will continue to receive all of the great services currently provided, both at a lower cost to the taxpayer and with increased efficiency. This budget will also provide Vernon residents with the security of knowing that the tax rate will decrease, at a time when great economic uncertainty exists throughout both the state and the country.”
        budget, surplus, taxes, Malloy, Cafero, union, labor, rally, Democratic, Bushnell Park, legislative leaders
• Jason McCoy McCoy Michele Arn VDTC Vernon Board of Ed Vernon Board of Education vernon connecticut democracts Vernon connecticut democrats Vernon CT vernon democrats vernon dems Vernon Mayor vernon politics Vernon Town Council

May 2, 2011

Thank you To the United States Government for Ridding The World of the Murdering Terrorist Bin Laden

Great News and Headlines Today- we are now one step closer to a safer and free world society again. We now need to finish the job by catching the rest of the Bin Laden command and cell members, then the world will be rid of these murdering terrorists.

Then freedom & safety can return for all to enjoy once again.

Mayor Jason L. McCoy


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May 1, 2011

Mayor McCoy: FY 2011-2012 Budget Adopted at Annual Town Meeting

Your Reader-Submitted Articles - Courant.com: "Mayor McCoy: FY 2011-2012 Budget Adopted at Annual Town Meeting"



Mayor McCoy and the Vernon Town Council Tuesday held the Annual Town Meeting at Rockville High School, where 127 qualified registered voters and property owners voted overwhelmingly to adopt the fiscal year 2011-2012 Budget.

The $79,293,749.00 budget focuses on several key hallmarks, including economic development, energy efficiency, and a reduction in the Town's tax rate, from 30.02 to 29.90. The adoption of the budget marks the first time in 12 years that the budget was not sent to a town-wide referendum.

"I am very pleased that the residents and taxpayers of Vernon approved this budget with overwhelming support," Mayor McCoy said. "With this budget, the community will continue to receive all of the great services currently provided, both at a lower cost to the taxpayer and with increased efficiency."

"Vernon's residents and taxpayers will be very happy with the spending plan put together by the Mayor, the Town Council and the Board of Education," added Deputy Mayor Brian Motola. "Taxes will not increase while services will remain intact."

The budget fully funds all services provided to citizens, including public safety. Police Chief James Kenny stated that, "The Vernon Police department is grateful that the citizens supported the upcoming budget and we will continue to provide the best possible services to the community with the funding provided."

Vernon Fire Chief William Call added that, "The Fire Department is very pleased that the Mayor's Administration has addressed its needs, including safety equipment, uniforms, and fire apparatus. We are pleased that the people approved the proposed budget presented to them."

Overall, the budget has a 0.73 percent increase from fiscal year 2010-2011. Mainly attributing to the historically low increase is the addition of capital improvement and debt expenditures, increasing by $766,763.00 or 13.96 percent from the 2010-2011 fiscal year. Spending on general government and education decreased in the budget by $97,872.00 or 0.38 percent and $96,601.00 or 0.20 percent, respectively.

"I am delighted with the passing of the 2011-2012 budget at the annual town meeting," said Dr. Mary Conway, Superintendent of Vernon Schools. "The budget is fair and reasonable and allows the school system to maintain current class sizes and services to children in the schools. I am especially appreciative of the support and hard work of the board of education, the administrative team, the town council, and the mayor who united as a team to prepare and promote this budget."

Commenting on the budget the Parks Director Bruce Dinnie said that, “I am pleased that the budget passed and that we can now focus on summer camp for the children and preparing our pools and beaches for this summer.”

"I would like to thank my Administration and the Town Council for supporting this budget and working hard to ensure that the residents of Vernon were delivered the best possible budget and thoroughly informed about it," said Mayor McCoy. "The fact that this budget was not sent to referendum, for the first time in 12 years, is a testament of the job that we are doing for the Town of Vernon. That being said, I would like to thank the residents and taxpayers of Vernon for their support of this budget and for allowing me to serve as their Mayor."

Enterprise Schedule- "Vernon Mothers Day Dash 5K"

Enterprise Schedule: "Vernon Mothers Day Dash 5K"

Vernon Mothers Day Dash 5K

Info: Vernon Mothers Day Dash 5K, Henry Park at 120 South St in Vernon, CT, 10 am
Date: Sun 5/8/2011 at 10 am
Location: Vernon CT
Timing By: Platt Timing Systems
Web Site:
Online Registration:
Notes: All Mother-Son and Mother-Daughter Teams must pre-register. Fast, Flat, Measured Course.

Divisions: Overall male and Female, 0-14,15-18,19-29,30-39, 40-49, 50-59, 60-69, 70 and over

Mother-Son Category, Mother-Daughter Category

Click for sign up Register

Contact: Bruce Watt bwatt@vernon-ct.gov
120 South St
Vernon, CT 06066
860-870-3520
Results:


Directions Bruce Watt
Recreation Supervisor
Town of Vernon
860-870-3520

April 14, 2011

Vernon Connecticut Police Promote Three | ReminderNews

Vernon PD promotes three ReminderNews


Vernon promotes three in a short ceremony in front of family, friends and fellow officers on April 13 at the Vernon police station.

Sgt. William Meier III was promoted to lieutenant, and officers Gary Jonas and Dan Champagne were promoted to sergeant.

“It’s a big day for our department,” said Chief James Kenny. “It’s one of the pleasures as a police chief to be able to stand before you and promote, in this case, three of our officers.”

April 1, 2011

Moody's Strong Credit rating of Vernon Connecticut AA2

This week Moody's issued its credit rating of the Town of Vernon which was is strong at AA2. As a result of the strength of the credit rating, our first since last years re-calibration, the Town has strong market access which yielded low interest rates on this weeks municipal debt issues.

As a result 6 investors bid on the Town's muni bond issue this week. The muni bond interest rates came in at 3.15%. That was lower than the last issue. Which reduces the debt repayment schedule estimated in the Mayor's proposed budget.

Vernon also issues notes, 6 investors bids on the Towns bond anticipation notes. The Town's note rating was MIG1 the highest note rating. The interest rate on the notes was 0.522%. The was lowest than our last issue.

Taxpayer in Vernon will have another $54,000 reduction 2011-2012 debt budget tomorrow at the budget hearings.

Moody's indicated that Vernon's credit rating was based upon our conservative financial practices, our taxpayers willingness to pay due to the last three successfully passed budgets, our ability to pay due to solid collection rate, that we trend well with no budgetary gimmicks and the strength of the pension and funding of the pension.


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Location:14 Park Place, Vernon, CT 06066