Standard&Poor's Ratings Services assigned its 'AA+' program rating and 'AA' school issuer credit rating (ICR) to Clay County School District No. 74 (North Kansas City), Mo.'s series 2014 general obligation (GO) refunding and improvement bonds. Standard&Poor's also affirmed its 'AA+' program rating and 'AA' ICR on the district's previously issued GO debt. The outlook is stable. The 'AA+' rating reflects our view of the district's participation in the Missouri Direct Deposit of State Aid program. Revenue from ad valorem taxes levied without limitation as to rate or amount on all taxable property in the district secures the bonds. Pursuant to the direct deposit agreement, to fund 100% of debt service costs, Missouri will intercept monthly state
