The 'AAA' rating on Plano, Texas' $57.87 million series 2003 GO refunding and improvement bonds reflects the city's: Diversified economic base with ongoing additional investment; Sustained strong assessed value (AV) growth, enhanced by the city's highly desirable location 20 miles north of the Dallas-Fort Worth MSA; Significantly above-average wealth and income levels; Conservative financial and debt management policies, which are reflected in monthly expenditure and revenue reporting; Strong general fund reserve levels augmented by additional reserves in various funds, providing significant revenue flexibility; and Manageable debt levels, enhanced by rapid principal amortization with an increasing percent of financing done on a pay-as-you-go basis, and future debt needs. The city's full faith and credit pledge secures the bonds. The estimated population
