MOSES LAKE — The sale of $5.79 million in limited tax general obligation bonds will partially fund the construction of Moses Lake’s new Civic Center.

MOSES LAKE - The sale of $5.79 million in limited tax general obligation bonds will partially fund the construction of Moses Lake's new Civic Center.

The Moses Lake City Council approved the bond issuance and sale during their last meeting.

Work on the $7.63 million Civic Center began this summer. The site is located next to city hall.

Jack McLaughlin, of D.A. Davidson, provided information about the bonds and the city's improved financial rating during the city council meeting.

The city received an improved A rating from Standard & Poor's. The city's last rating was an A-.

"I was disappointed in the final result," he said. "I would have rated you higher."

Just recently, more weight during the rating process was placed on having a reserve fund policy.

The city will likely be looking at an upgrade when it passes its policy.

McLaughlin said the city is "very, very well managed."

He also told the city council Moses Lake is one of the great spots of the state.

New projects are coming online and assessed valuation is increasing dramatically, he said.

"People read this (rating) document and it's very, very positive," McLaughlin said.