Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Encinitas Union School District, Calif.'s series 2015 general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating on the district's existing GO bonds. The outlook is stable. The rating reflects our view of the district's: Mature residential tax base with extremely strong wealth and income levels, Very strong financial performance and flexibility supported by its basic-aid status, Good financial management policies and practices, and Low-to-moderate debt levels. Revenue from unlimited ad valorem taxes levied on taxable property within the district secures the GO bonds. The San Diego County Board of Supervisors has the power and obligation to levy these taxes at the district's
