The 'AA' rating on Colorado Springs, Colo.'s sales and use tax revenue bonds reflects: The city's strong general creditworthiness ('AA' GO rating); A strong and diverse sales tax base; Solid legal provisions, including a historical additional bonds test requiring 2 times (x) coverage of future maximum annual debt service (MADS); and Strong coverage of future MADS. The bonds are secured by the city's pledge of its 2% sales and use tax to repay debt service. Colorado Springs, Colo., with a population of 341,000, is located approximately 65 miles south of Denver and is the county seat of El Paso County. The city has a service-based economy, with sizable hi-tech and defense industries. Leading area employers include high technology companies like
