In a strategic move, the City of Plano refunded old bonds and issued new bonds earlier than its normal January schedule for a substantial savings. The refunded outstanding Series 2002 and 2003 bonds total $20.540 million and offer a 6.4 percent or $1.374 million in cash flow savings. The new money issue of $25.860 million will be dedicated to public improvements to streets, equipment and a recreation center. The three most-respected investor services (Fitch Ratings, Moody’s Investors Service and Standard & Poor’s) issued AAA ratings on Plano’s General Obligation Refunding and Improvement Bonds, Series 2011. AAA is the highest available rating and further confirms Plano’s historically strong financial profile, sound management practices and economic outlook.