The 'AAA' rating on Monmouth County, N.J.'s series 2006 GO bonds reflects the county's: Strong local economy anchored by the services, retail trade, and health care industries; Substantial and rapidly growing tax base; Income levels that exceed both state and national levels; Consistently strong and conservative financial management, evidenced by regular operating surpluses and high current fund balances; and Moderate-to-low overall debt burden. Monmouth County (current population, 635,952) is in central New Jersey and neighbors Mercer, Middlesex, Burlington, and Ocean counties. The county is an affluent residential community and increasingly serves as a major commuting hub for the greater New York City area employment base. As of 2005, approximately 83% of the county's assessed valuation (AV) consisted of residential properties.
