The 'A+' Standard&Poor's underlying rating (SPUR) on Tacoma, Wash.'s solid waste revenue bonds reflects a net revenue pledge of the system as security for bond repayment. The rating is supported by: A sound and diverse local service area economy; A strong revenue collection process; Strong control over the waste stream, as the city owns and operates a collection system; and Sound financial operations. A higher rating is precluded due to concerns regarding the high solid waste system fees and charges. Tacoma (population: over 190,000) is located in Pierce County, 32 miles south of Seattle. The leading local employers are Fort Lewis Army Base and McChord Air Force Base, with a total of 30,000 military and civilian employees. The
