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Hempstead Town gets top bond rating

The Wall Street credit rating firm Moody’s Investors Services has given Hempstead Town its highest-quality bond rating of Aaa.

The town boasts a “history of solid financial performance,” according to a Moody’s report released July 14. The firm projected the town’s diversified tax base will remain stable.

Town officials said the rating reaffirms Wall Street’s high regard for the town’s financial practices. Supervisor Kate Murray’s administration is aiming to craft a 2012 budget proposal that freezes taxes, officials said.

“The Town of Hempstead is maintaining its array of life-enhancing services for residents while holding the line on taxes,” Murray said in a statement. “Gaining continued respect from the top Wall Street credit rating agencies enables us to continue” those services.

In May, the town was awarded its seventh consecutive annual certificate of achievement for excellence in financial reporting by the independent Government Finance Officers Association. “We are fortunate that our conservative budgeting practices have kept our township’s fiscal health in impressive shape,” Murray said.

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