The 'A' Standard&Poor's underlying rating (SPUR) on New York State Dormitory Authority's outstanding court facilities program bonds, issued for New York City, is based on state legislation that requires the state comptroller to withhold (after certain prior liens) New York City state per capita aid payments, as well as other specified types of state aid, to pay debt service on the bonds should the city not pay its lease obligations in a timely manner. While there is a demonstrated history of state aid appropriations to New York City, there is no legal covenant to maintain state aid at any given level. The city's obligation to pay debt service on this city lease is subject to annual appropriation by
