Monmouth County Improvement Authority, N.J.'s county-guaranteed capital equipment pooled lease revenue bonds series 2007 have been rated 'AAA', based on Monmouth County's unconditional guarantee, along with the unconditional and irrevocable obligation of each local unit to make annual debt service payments to the authority. If any local unit fails to make its respective payment, Monmouth County is then required to make debt service payments to the authority on the local unit's behalf. The series 2007 bonds are fully backed by a county guarantee, which represents a full faith and credit GO pledge of Monmouth County ('AAA'/Stable GO rating). Various types of capital equipment are being financed through the program, including police cars, fire equipment, trucks, computers, and ambulances. The series
