The 'AA+' rating on Denver City and County, Colo.'s GO justice system facility bonds series 2007 and GO debt, along with GO debt issued on behalf of the Denver Board of Water Commissioners, reflects: A large and diverse economy; Above-average per capita income levels; Moderate debt levels; and The maintenance of a large fund balance position, including the implementation of proactive midyear budget-cutting when necessary, to maintain general fund reserves at a minimum of 10% of expenditures. Median household effective buying income levels that are only average, coupled with previous declines in city sales tax collections (a major revenue source)--partially offset by property tax growth--is a mitigating factor. Denver serves as a service, trade, and transportation center for the greater
