The 'AA' rating on Portage, Mich.'s Michigan Transportation Fund bonds reflects the county's pledge of annual gas and weight taxes received by the county from the state according to state law Act 51, Public Acts of Michigan, 1951, as amended. The bonds were issued pursuant to the provisions of Act 51, Public Acts of Michigan of 1951, as amended and resolutions adopted by the county board of commissioners and by the road commission. The bonds are payable from monies to be derived from state-collected taxes returned to the city from the Michigan Transportation Fund for highway and road purposes pursuant to Act 51, as amended. As additional security for the payment of the principal of and interest on the bonds,
