Summary: Sarasota County, Florida; General Obligation

S&P Global Ratings assigned its 'AA-' long-term rating to Sarasota County, Fla.'s series 2021A and 2021B. The outlook is stable. The 2021A and 2021B bonds are secured by a lien and pledge on 50% of the total received in the prior year under the guaranteed entitlement revenues, second guaranteed entitlement revenues, and growth money state-shared revenues. The entitlement and growth revenues are state-levied sales and use taxes and cigarette taxes. Pursuant to state statutes, the state levies sales and use taxes on a variety of retail sales, including food, beverage, rental and lease properties, licenses, admissions, and with exemptions various other items. Cigarette taxes are also levied. The guaranteed entitlement revenues and second guaranteed entitlement revenues are fixed-dollar amounts, set

...S&P Global Ratings assigned its '##-' long-term rating to Sarasota County, Fla.'s series 2021A and 2021B. The outlook is stable. The 2021A and 2021B bonds are secured by a lien and pledge on 50% of the total received in the prior year under the guaranteed entitlement revenues, second guaranteed entitlement revenues, and growth money state-shared revenues. The entitlement and growth revenues are state-levied sales and use taxes and cigarette taxes. Pursuant to state statutes, the state levies sales and use taxes on a variety of retail sales, including food, beverage, rental and lease properties, licenses, admissions, and with exemptions various other items. Cigarette taxes are also levied. The guaranteed entitlement revenues and second guaranteed entitlement revenues are fixed-dollar amounts, set by the state legislature as equal to state-shared revenue in fiscal years 1972 and 1982, respectively. Total entitlement revenue is fixed at $2.268 million annually. Growth revenue is additional...

Summary