Summary: North Mankato, Minnesota; General Obligation; Non-School State Programs

S&P Global Ratings assigned its 'AA' long-term rating to North Mankato, Minn.'s estimated $11,365,000 series 2021A general obligation (GO) bonds. At the same time, we affirmed our 'AA' underlying rating on the city's GO bonds outstanding. The outlook is stable. Securing the bonds is the city's full-faith-and-credit pledge and ability to levy unlimited ad valorem property taxes. The bonds are payable from tax incremental revenues, special assessments, and sales tax, but the rating is based on the unlimited ad valorem tax pledge. Proceeds will be used to finance various street improvements throughout the city, as well as recreation facility improvements and Belgrade Avenue improvements. North Mankato, having maintained a stable history of balanced operational performance, complete with very strong available

...S&P Global Ratings assigned its '##' long-term rating to North Mankato, Minn.'s estimated $11,365,000 series 2021A general obligation (GO) bonds. At the same time, we affirmed our '##' underlying rating on the city's GO bonds outstanding. The outlook is stable. Securing the bonds is the city's full-faith-and-credit pledge and ability to levy unlimited ad valorem property taxes. The bonds are payable from tax incremental revenues, special assessments, and sales tax, but the rating is based on the unlimited ad valorem tax pledge. Proceeds will be used to finance various street improvements throughout the city, as well as recreation facility improvements and Belgrade Avenue improvements....

Summary