Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Polk County, Iowa's series 2013A, 2013B and 2013C general obligation (GO) bonds, based on our recently released local GO criteria. The outlook is stable. A pledge of the county's full faith and credit and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure the bonds. The county intends to use the proceeds of the bonds to finance the first phase of a courthouse renovation project and various capital improvement projects. In early November 2013, voters authorized the issuance of up to $81 million in GO bonds to fund the courthouse renovation project. The rating reflects our assessment of the following factors for
