S&P Global Ratings assigned its 'AA+' rating to Clay County School District No. 74 (North Kansas City), Mo.'s approximately $20.3 million series 2024 general obligation (GO) refunding bonds. The outlook is stable. Participation in the Missouri Direct Deposit of State Aid program secures the bonds. Officials intend to use series 2024 bond proceeds to refund series 2014 GO refunding and improvement bonds. The rating reflects our assessment of the district's eligibility for, and participation in, the Missouri Direct Deposit of State Aid program. The state credit-enhancement rating is one notch below the Missouri GO rating, reflecting: Our view of state aid appropriation risk, partially mitigated by strong state support for the program and consistent, well-established state aid funding; Our expectation