S&P Global Ratings assigned its'AA'rating to Sarasota County , Florida's $118 million series 2026B infrastructure sales surtax revenue bonds. 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 $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 2026B bonds or the parity bonds outstanding. Officials plan to use series 2026B bond proceeds to fund road construction and improvements. The rating reflects the county’s infrastructure sales surtax collections, which
