The 'AA+' rating on Polk County, Iowa's GO bonds reflects: The stable and diverse Des Moines MSA economy, A consistently strong financial performance, and Moderate overall net debt levels. The county's full faith and credit pledge secures the unlimited-tax GO bonds. Also outstanding are limited-tax capital loan notes. The rating on unlimited-tax debt is not differentiated from limited-tax debt due to: Strong financial reserves, The resulting financial flexibility of the county, and An identified nonlevy source for debt service payments. Polk County comprises the base of the Des Moines MSA—a stable and diversified regional economic center in central Iowa. The county has experienced modest population growth, reaching 375,000 residents in 2000—an increase of 14.5% over the past decade. The county's
