Standard&Poor's Ratings Services assigned its 'AA+' program rating and 'AA' school issuer credit rating (ICR) and stable outlook to Clay County School District No. 74 (North Kansas City), Mo.'s series 2012 general obligation (GO) refunding bonds and affirmed its 'AA+' program rating and 'AA' ICR, with a stable outlook, on the district's existing GO debt. The 'AA+' rating reflects the district's participation in the Missouri Direct Deposit of State Aid Program. Ad valorem taxes levied without limitation as to rate or amount on all taxable property in the district secure the bonds. Pursuant to the direct deposit agreement, to fund 100% of debt service costs, Missouri will intercept monthly state aid payments allocated to the district. State aid
