By the end of her first term , Hoboken had a balanced budget , had cut taxes by 12 % .
The city 's bond rating had gone from BBB - to AA+ , the second highest S&P rating .
By the end of her first term , Hoboken had a balanced budget , had cut taxes by 12 % , and the city 's bond rating had gone from BBB - to AA+ , the second highest S&P rating .