...S&P Global Ratings assigned its '##+' rating to Sarasota County, Fla.'s series 2018A and 2018B capital improvement revenue refunding bonds. At the same time, S&P Global Ratings affirmed its '##+' rating on the county's parity capital improvement revenue bonds outstanding. The outlook on all ratings is stable. A junior-lien pledge on Sarasota County's share of local government half-cent sales tax proceeds secures the series 2018A and 2018B capital improvement revenue bonds in addition to the parity bonds outstanding (series 2017, 2010A, and 2010B). The senior lien is closed, and there is currently no senior-lien debt outstanding. Officials intend to use series 2018A bond proceeds to refinance a loan from the pooled commercial paper loan program of the Florida Local Government Finance Commission, the proceeds of which were used to finance the cost of constructing, acquiring, and equipping the Sheriff's Office and administrative headquarters facility and the financing or refinancing of other...
