S&P Global Ratings assigned its 'AA+' long-term rating to Monarch Fire Protection District, Mo.'s approximately $2.9 million series 2023 general obligation (GO) bonds. At the same time, we affirmed our 'AA+' long-term rating on the district's GO debt outstanding. The outlook is stable. Revenue from an unlimited ad valorem tax on all taxable property in the district secures the bonds. The current issuance represents the second and final installment of authorized debt approved by voters in June 2020. Bond proceeds will be used to finance new facilities and equipment. The district is situated in a very strong and historically growing economy in the St. Louis suburbs. Consecutive surplus operations from a growing tax base and conservative budgeting practices resulted in
