|Obviously, your water bills are going to get bigger & bigger|
From The Wall Street Journal
AUSTIN, Texas, Nov 17, 2011 (BUSINESS WIRE) -- Fitch Ratings assigns an 'AA-' to the following Laredo, Texas (the city) revenue bonds: --$31.7 million waterworks and sewer system (the system) revenue bonds, series 2011
"Wealth levels among lowest in the U.S."
Laredo is located in Webb County, along the U.S.-Mexico border. The city has an estimated population of 236,000. Population growth has averaged a moderate 2.8% over the last five years. Principal economic activities include tourism, oil, manufacturing, international trade, and government. Tourism remains an important sector of the city's economic base, while government employment continues to grow, accounting for a larger portion of the economy. The city's unemployment rate was estimated at 8% in August 2011, below county (8.5%), state (8.4%), and national (9.1%) levels for the month. As is the case in other Texas border communities, wealth levels are among the lowest in the U.S. However, the area's relatively low cost of living somewhat mitigates this as a credit concern.
Based on what some of our city officials make, you would think Laredo's a lot more wealthier than this rating company indicates. Just between the city manager and his (3) assistants, Laredo taxpayers ditch out nearly $700,000 for their combined salaries. As they say, believe it or not!