S&P Global Ratings assigned its 'AA' rating to Sarasota County, Florida's $28.5 million series 2026 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. On Nov. 8, 2022, voters approved, via a special election, $400 million in capital improvements to be secured by this infrastructure sales surtax. Any authorized parity bonds must mature by Dec. 31, 2039, the expiration date of the tax. The county does not maintain a debt service reserve for the series 2026 bonds or the parity bonds outstanding. Officials plan
