...S&P Global Ratings assigned its '##+' rating to the City of Fayetteville, N.C.'s $19 million series 2022 general obligation (GO) parks and recreation bonds. S&P Global Ratings also affirmed its '##+' rating on the city's unlimited GO debt and its '##' rating on Fayetteville's previously issued appropriation-backed debt. The outlook is stable. Fayetteville's full faith and credit pledge and agreement to levy ad valorem property taxes without limitation as to rate or amount secure the series 2022 issue and the city's GO debt outstanding. Series 2022 bond proceeds will be used as the final tranche for Fayetteville's 2016 parks and recreation bond program that will finance a senior center, a tennis center, a sports complex, and various park improvements within the city. City payments to the trustee, subject to appropriation, and pursuant to the trust agreement secure Fayetteville's limited obligation bonds (LOBs). The city's budget officer is required to include payment in Fayetteville's budget...
