March 5th, 2025 by WCBC Radio

During last night’s Cumberland Mayor and City Council Open Work Session, Ken Tressler, Director of Administrative Services, reported that Cumberland’s bond rating is the highest it has been since records began in 2008…

“The revenue is up.  We’re managing our spending.  We’re managing our debt.  Uh, we typically issue new debt for assets that are going to last seven years or more.”

As a result, in the following Public Meeting, the Mayor and City Council authorized the sale of up to $5.2 million of general obligation bonds, most of which has already been claimed, according to Tressler…

“We’ve already dibbed $3.9 million of declaration of intent, so. We– we expect to have most of that—almost all of that money spent by December of 25.”