Standard & Poor’s last week raised the town of Normal’s general obligation rating to AA-plus from AA in recognition of its positive financial operations and the sustained strength of its reserve levels ahead of the town’s $10 million debt sale.

The bonds are expected to sell the week of Aug. 4. Proceeds will finance capital improvements in Normal’s uptown area. Officials anticipate issuing an additional $6 million of GOs in 2009 to complete the uptown plan.

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