S&P Global Ratings assigned its 'AA' long-term rating to Oak Park Village, Ill.'s series 2016D general obligation (GO) corporate purpose bonds and series 2016E taxable GO corporate purpose bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the village's existing GO debt. The outlook is stable. The series 2016D and 2016E GO bonds are secured by unlimited ad valorem property taxes. The village will use the series 2016D bond proceeds to finance street and alley improvements. The village will use the series 2016E bond proceeds to finance a portion of an economic development project, specifically a portion of the cost of a 588-spot parking garage. The village will own 300 of
