S&P Global Ratings assigned its 'AAA' rating to the City of Minneapolis' $128.455 million series 2023 general obligation (GO) bonds. At the same time, we affirmed our 'AAA' rating on the city's GO debt outstanding. The outlook is stable. The bonds are secured by the full faith and credit of the city; a portion of the bonds' intended repayment source will be special assessments and net revenue of the water, sanitary sewer, and storm water systems. The bonds will be used for improvements to the city's water and sanitary sewer systems, various assessable public projects, and capital projects. Minneapolis finished fiscal 2022 (year-end Dec. 31) with a surplus of approximately $30.9 million (unaudited) with the aid of a $47 million
