ANAL: S20 SEL: 003205001 OUTLK: S RTG: A XXXXXX<$!009967>ORANGE COUNTY, FLORIDA<$!> Analysts: Andrew DeStefano 212-208-1779, Jeffrey Panger 212-208-8935 AFFIRMED $2.8 mil gas tax ser 1977 bndsA OUTLOOK: STABLE XXXXXX RATIONALE: The rating on Orange County, Fla.'s bonds is affirmed based on a review of the 1996 audited financial statements and other economic information. These bonds, scheduled to mature in 2002, are secured by a one-cent gasoline tax levied by the county. This revenue is collected by the state and then remitted back to the county based on formula funding. Revenues of $2.9 million covered maximum annual debt service by a sound 5 times in fiscal 1996. OUTLOOK: The outlook reflects the relatively constant stream of gasoline tax revenues to
