...S&P Global Ratings assigned its '##' long-term rating to Oak Park Village, Ill.'s series 2018A taxable general obligation (GO) refunding bonds (Holley Court Garage Project). The outlook is stable. The proposed $8.8 million in 2018A bonds will refund outstanding portions of the village's series 2006C sales tax revenue bonds for interest cost savings. The 2018A bonds are secured by revenue from the village's unlimited-tax GO pledge. The rating reflects our view of the village's: + Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); + Strong management, with "good" financial policies and practices under our Financial Management Assessment methodology; + Strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level in fiscal 2016; + Very strong budgetary flexibility, with an available fund balance in fiscal 2016 of 16% of operating expenditures; + Very strong liquidity, with total government available...
