The 'A+' long-term rating assigned to Minneapolis, Minn.'s series 2010-1 limited-tax-supported development revenue bonds is supported by the following credit factors: Reserve levels that are adequate, in Standard&Poor's Ratings Services' view, to cure defaults consistent with an 'A' category rated pool; Minneapolis' demonstrated additional support of the program evidenced by the commitment of a one-half-mill tax levy pledge as an additional reserve cushion; and An experienced management team. These strengths are offset by the program's geographic concentration and some project concentration. Debt service is primarily secured with loan repayments under the city's common bond fund, as well as with pledged reserves. The city will use the series 2010-1 bond proceeds to fund building acquisition, renovation, and equipping for
