The City of Allen will pay interest when the bonds are sold. The market determines the interest rates at the time the City sells the bonds; however, the City of Allen pays low interest rates due to excellent bond ratings. City of Allen’s bond rating is Aa1 from Moody’s Investors Service. The rating reflects strong fiscal management and the steady growth of our tax base. This rating provides significant savings to Allen taxpayers by qualifying the City of Allen for low interest rates.