MISSOURI CITY (FOX 26) - On a beautiful spring day, the last thing you want to do is spend time in a city budget workshop meeting. Trust me, they are not exciting.
"It's kind of map to where we want to be in five years and what its going to cost to get us there." said mayor Allen Owen.
But at least at this meeting at Missouri City Hall at there's some good news. A few weeks ago, the city refinanced 79 million dollars in loans.The mayor says that means the city will save ten million dollars over 20 years.
"That's real money.That keeps our bond rating where it needs to be. You saw Houston take a hit and when you spend more than you take in, you take hit on the bond rating."
Missouri City has kept it's AA2 rating. Moody's downgraded the City of Houston from AA2 to AA3. That means it will cost more to pay back borrowed money. Moody's cited falling oil prices, falling sales tax revenues and underfunded pensions as reasons.
While many Houston suburbs rely on the energy industry as well, Missouri City is more reliant on the medical center. As a result home sales here are still relatively strong.
Bad news taxpayers, you won't be getting that money back. Well, actually you will, just not directly.
City Council Member Jerry Wyatt says those funds will go for capital improvement projects like roads and bridges.
"When you are a growing city like we are and you have aging infrastructure, then there's going to be a need for more money to keep up and maintain what we have."
But nobody is kidding themselves here, if Houston's economy continues to suffer. Things here could take a turn for the worse.