Standard&Poor's Ratings Services assigned its 'A' long-term rating to Lane County Unified School District No. 482 (Dighton), Kan.'s series 2013 general obligation (GO) bonds. The outlook is stable. The ratings reflect our opinion of the district's: Good wealth and income levels and Strong financial position. We believe these strengths are somewhat offset by: The constraints of the existing state school finance system, which include restrictions that essentially create low fund balances and operating millage rate caps; The district's concentrated tax base, which is centered around oil and gas; and High debt burden on a per capita basis, coupled with additional debt plans. An unlimited ad valorem property tax pledge secures the bonds. Officials plan to use bond proceeds
