The 'AA+' rating on Cuyahoga County, Ohio's GO limited-tax, sewer-improvement refunding bonds series 2003 reflects the county's: Large and diverse economic base, anchored by Cleveland; Average income levels; Strong financial management team that has adjusted spending in recent years to counter revenue declines while maintaining strong reserves; and Moderate debt burden. Cuyahoga County is located in northeastern Ohio, on Lake Erie. The county includes the City of Cleveland ('A' GO rating), which constitutes 34% of the county's population and 21% of its tax base. Due to a 5% drop in Cleveland's population during the 1990s, the county's population fell 1.3% from 1990 to 2000, to 1.4 million. The county's assessed valuation grew 11.7% from 2000 to 2001, following a sexennial
