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<br />The Eugene Public Library serves 4,000 visitors per day and processes nearly three million check-outs per year. The <br />Library’s three locations provide 800 programs per year, ranging from storytimes to classes to entertainment. Nearly <br />39,000 community members of all ages benefit from these free events. The Library’s Internet and database computers <br />provide nearly 25,000 user sessions each month. The Library Journal Index of Public Library Service 2011 is based on <br />2009 data reported by libraries to the Institute of Museum and Library Services. <br /> <br />For more information, contact the Eugene Public Library at 541-682-5450 or www.eugene-or.gov/library. <br /> <br />Moody’s Investors Service Confirms Eugene’s Aa1 Rating <br />Moody’s Investors Service confirmed Eugene’s Aa1 credit rating on Nov. 15, 2011. The outlook for the rating is stable. <br />The City’s Aa1 rating is just one notch below the highest triple-A rating that can be achieved. <br /> <br />The report sets out what Moody’s sees as Eugene’s credit strengths and challenges. One of the key strengths is <br />strong fiscal management, including maintenance of sound reserve levels, long-term budgetary planning and modest <br />debt burden. Moody’s acknowledges that Eugene’s strong financial performance in recent years has been due to <br />active budget management. It cites maintenance of reserve levels, staff reductions, operating efficiencies and other <br />savings measures as examples of Eugene’s prudent financial decisions. <br /> <br />The most significant challenge for Eugene’s credit rating, according to the report, is modest declines in taxable <br />assessed value, and further declines could lead to a rating downgrade in the future. The other factor that could reduce <br />the rating would be a significant deterioration of the City’s financial position. <br /> <br />This credit rating update was performed in connection with the upcoming refinancing of previously issued General <br />Obligation bonds for fire station construction, parks, athletic fields and open spaces, and street repairs. The refunding <br />is being undertaken to achieve interest rate savings. <br /> <br />For more information, please contact Finance Director Sue Cutsogeorge at Sue.L.Cutsogeorge@ci.eugene.or.us or <br />541-682-5589. <br /> <br /> <br /> <br />EUGENE CITY COUNCIL NEWSLETTER PAGE 2 <br />November 17, 2011 <br />