Standard&Poor's Ratings Services assigned its 'AA' rating to the University of Minnesota's series 2013C special-purpose revenue bonds (state-supported biomedical science research facilities funding program), and affirmed its 'AA' rating on the parity biomedical funding program bonds. The outlook on both ratings is stable. The series 2013C bonds and parity bonds are secured by general fund appropriations from the state of Minnesota, which are appropriated specifically for, and pledged to, debt service payments on the bonds, pursuant to Minnesota Statutes Sections 137.61 to 137.65 and a biomedical science research facilities funding program act agreement between the state and the university. Other than state appropriations received from Minnesota specifically for debt service payments on the bonds, no other revenues of
