S&P Global Ratings assigned its 'AA' rating to Sarasota County, Fla.'s series 2023 infrastructure sales surtax revenue refunding bonds outstanding ($82.5 million). At the same time, S&P Global Ratings affirmed its 'AA' rating on the county's parity infrastructure sales surtax revenue bonds outstanding. The outlook is stable. A one-cent, electorate-approved, infrastructure sales surtax collected on tangible personal property sold at retail secures the bonds. Officials plan to use series 2023 bond proceeds to fund a portion of the $400 million in capital improvements approved by voters through a special election held on Nov. 8, 2022. Any referendum-authorized parity bonds must mature by Dec. 31, 2039. The county does not maintain a debt service reserve for the series 2023 bonds or
