The 'SP-1+' rating on Louisiana Public Facilities Authority's (LPFA) advance funding notes, issued for Monroe City School Board and Plaquemines Parish School Board, reflects: An alternative security mechanism in case of debt service deficiencies by participating school districts, A general fund pledge of each of the districts, and The strong debt service coverage by net general fund cash balances at the segregation dates. When the notes are issued, both school boards will enter into a purchase agreement with LPFA, providing for the purchase of that board's anticipation certificates by the authority. The notes will provide funds to purchase revenue anticipation certificates to be issued by the two school boards to assist them in providing for projected cash flow deficiencies during
