The rating on Minnesota's bonds reflects: * The historically steady growth of identified nontax revenues available to pay debt service on the bonds; * 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 continued strong general creditworthiness of the state. 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 a share of lottery revenues. The state may pay debt service from no other sources. Because of statutory provisions, the legislature is prohibited from dedicating the currently nondedicated revenues
