S&P Global Ratings assigned its 'AAA' long-term rating to Burnsville, Minn.'s anticipated $8.4 million series 2024 general obligation (GO) improvement and utility revenue bonds, based on the application of its "Methodology For Rating U.S. Governments," published Sept. 9, 2024, on RatingsDirect. S&P Global Ratings affirmed its 'AAA' long-term rating on the city's GO bonds outstanding. The outlook is stable. The city's full faith and credit and ad valorem taxing powers secure its GO bonds. The city will use bond proceeds to fund street and utility projects. The city will pay a portion of the series 2024A bonds with special assessments and property taxes, and a portion with utility net revenue. We rate the bonds to the GO pledge. The rating
