Standard&Poor's Ratings Services has removed the provisional rating on Napa County Board of Education, Calif.'s certificates due to project completion and acceptance and affirmed the 'A-' rating. The rating reflects: The board's good general creditworthiness, and Lease payments that are subject to budget and appropriation. The certificates are secured by board lease payments. The lease structure includes a debt service reserve fund equal to the maximum annual debt service. The leased asset consists of a 10.5-acre site, on which the board holds a leasehold interest until 2043, and a new administrative office building that was constructed on the leased property with a portion of the proceeds from the certificates. Previously, the board rented office space, which was replaced
