S&P Global Ratings assigned its 'AA' rating to Sarasota County , Fla.'s $33.3 million series 2025 infrastructure sales surtax revenue bonds. At the same time, we affirmed our 'AA' rating on the county's parity infrastructure sales surtax revenue bonds outstanding. The outlook is stable. A one-cent, electorate-approved, infrastructure sales surtax collected on tangible personal property sold at retail secures the bonds. Officials plan to use series 2025 bond proceeds to fund a portion of the $400 million in capital improvements approved by voters through a special election held on Nov. 8, 2022. Any referendum-authorized parity bonds must mature by Dec. 31, 2039. The county does not maintain a debt service reserve for the series 2025 bonds or the parity bonds
