The 'AA+' rating on Cuyahoga County, Ohio's limited-tax GO sewer district improvement bonds series 2005 reflects the county's: Deep, diverse economic base that is anchored by the City of Cleveland; Average income levels with annual growth in income consistently tracking national growth trends; A financial management team with a proven track record of proactive management in maintaining a strong financial position; and Moderate debt burden. Offsetting weaknesses include the continuing challenge of funding general fund operations partly from economically sensitive sales tax revenues. The sewer district improvement bond proceeds will be used to pay the cost of constructing a new water line and a new sanitary sewer line in one of the county's sewer districts. The 'AA+' rating on the
