S&P Global Ratings assigned its 'AAA' rating and stable outlook to Minneota Independent School District No. 414, Minn.'s series 2018B general obligation (GO) facilities maintenance bonds. Officials intend to use series 2018B bond proceeds to finance various indoor air-quality and health-and-safety projects at the district's existing facilities, as included in the 10-year facility plan approved by the commissioner of education on April 24, 2018. In addition, the bonds are a valid and binding GO of the district. All taxable property in the district is subject to ad valorem taxation without limitation as to rate or amount. Authorized by Minnesota Statutes, Section 126C.55, the program was designed to correct potential school district default situations and is backed by a standing appropriation
