The rating on Polk County, Iowa's bonds reflects: * A stable and diverse Des Moines MSA economy, * Consistently strong financial performance, and * Moderate overall net debt levels. Polk County comprises the base of the Des Moines metropolitan area, a stable and diversified regional economic center. Major employers include insurance companies (13,550), health care systems (7,200), and publishers. Des Moines is also the state capital, which lends stability to the labor market. The unemployment rate has been below state and national levels for the past 22 years and averaged a low 2.8% in 1997. Per capita personal income is 125% and 114% of state and national levels, respectively. Per capita market value of property in 1998 is high at
