The 'A+' rating on Washington County, Md.'s public improvement and refunding bonds series 2003A and outstanding GO bonds reflects: A growing local economy that is centered on services, manufacturing, and trade; Healthy tax base growth along with no taxpayer concentration; Good financial performance and position; and A moderate debt burden. Tempering factors include ongoing transfers from the general fund to the water and sewer utility fund and below-average wealth indicators. The series 2003A and outstanding GO bonds are secured by the county's full faith and credit pledge. The series 2003A bond proceeds will be used to refund outstanding bonds, for net present value savings. Part of the proceeds, $5.4 million, is new money that will be used to fund various
