S&P Global Ratings assigned its 'AA+' long-term rating to Encinitas Union School District, Calif.'s $60 million series A (election of 2024) general obligation (GO) bonds. At the same time, we affirmed our 'AA+' rating (SPUR) on the district's GO debt outstanding. The outlook is stable. The rating reflects the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. Unlimited ad valorem taxes levied on taxable property in the district secure the GO bonds. The San Diego County Board of Supervisors has the power and obligation to levy these taxes at the district's request for the bonds' repayment. The county is required to deposit such taxes, when collected, into the bonds' debt service fund. An escrow comprised of
