Lower Moreland Township Authority, Pa.'s bonds, issued for Lower Moreland Township, are secured by a full faith and credit guarantee of Lower Moreland Township. The authority's rating reflects the following factors of the township: * High income levels; * An affluent, primarily residential community; * Strong financial performance and reserves; and * Moderate debt level. The township is located in eastern Montgomery County, within commuting distance to Philadelphia. It is a small, affluent residential community. Income levels are high, well above both the state and nation. In 1998, the county unemployment rate was 3.3%, which was below both the state (4.8%) and the nation (4.6%). Financial performance has been strong with the unreserved general fund balance ranging from 13%-17% of
