The rating on Johnson County Unified School District No. 231 (Gardner), Kan.'s bonds reflects the unlimited GO pledge of the district, supported by: A steadily expanding local economy with proximity to the broad and diverse Kansas City, Kan. metropolitan area; Healthy assessed valuation growth; An adequate financial position; and A high debt burden with further capital needs. Located in northeastern Kansas, the district serves the cities of Gardner, Edgerton, Antioch, and unincorporated areas of Johnson and Miami counties. Population has risen 50% from 1990-1999 to 13,748, as the Kansas City metropolitan area has been expanded by those seeking more affordable and larger-size homes. The market value of taxable property has risen as well, more than doubling to $709 million since
