The rating on Minnesota's bonds reflects: * The historically steady growth of identified nontax revenues as security for the bonds, with strong coverage of projected maximum annual debt service; * The short debt maturity schedule as required by the authorizing legislation; * The state's strong fiscal management; and * The state's continued strong general creditworthiness. The 1996A bonds are secured by nondedicated, nontax revenues, which are limited to departmental earnings, such as various fees and charges collected by departments; medical payments received by the state; and certain nondedicated lottery revenues. The state may pay debt service from no other sources, and future legislative action might dedicate some of the currently nondedicated revenues, thereby eliminating some of the available revenue sources
