S&P Global Ratings assigned its'A'long-term rating to the City of Fort Morgan , Colorado's anticipated $24.85 million series 2026 certificates of participation (COPs). The outlook is stable. The COPs represent an interest in lease payments made by the city to U.S. Bank N.A. as the lessor and trustee for use of the leased asset. Under the lease-purchase agreement, the obligation of Fort Morgan to pay base rent during the lease term is absolute and unconditional and may not be abated or offset for any reason related to the leased property. The lease is annually renewable, and the base rental payments are subject to annual appropriation. Voters approved a 1% sales tax dedicated to aquatics center purposes in 2025
