The rating on Newark Unified School District (Newark USD), Calif.'s GO bonds is based on the district's GO tax pledge securing the bonds. Rating factors include the district's: Participation in the San Francisco Bay area's strong and diverse economy, Above-average income and wealth, and A steadily growing property tax base. These strengths are somewhat offset by growing debt levels and slow amortization. The district encompasses 13 square miles in southwestern Alameda County, which is 35 miles southeast of San Francisco. Newark, Calif., with a population of 43,000, and Newark USD are coterminous. District student enrollment, which is measured by average daily attendance, is about 7,800 and has remained stable. Enrollment is expected to decrease slightly in 2001, although projections indicate
