The 'AA+' enhanced rating on Clay County School District No. 74 (North Kansas), Mo.'s GO school building bonds reflects the direct deposit of portions of monthly state aid by the state to a bond trustee. State aid covers maximum annual debt service more than 1.5 times (x). The 'AA-' Standard&Poor's underlying rating (SPUR) reflects the school district's: Participation in the Kansas City, Mo. area economy; Historically low unemployment levels; and Strong financial performance. Moderate tax base concentration offsets these positive credit characteristics. The district is primarily in Clay County with its 113,000 residents accounting for nearly two-thirds of the county's total population. About one-quarter of Kansas City, Mo.; and North Kansas City, Mo.; Gladstone, Mo.; and Pleasant Valley,
