Standard&Poor's Ratings Services assigned its 'A+' long-term rating to West Fargo Park District Building Authority, N.D.'s series 2015 lease revenue bonds, issued for West Fargo Park District, reflecting the risk of nonappropriation. At the same time, we affirmed our 'AA-' long-term rating on the park district's general obligation (GO)-secured debt outstanding. The outlook is stable. The 'AA-' rating reflects our view of the park district's general creditworthiness, including its: Stable economy and growing tax base, supplemented by the district's participation in the Fargo, N.D. economic area; Strong median household effective income and very strong market value per capita; and Reserve levels, which are very strong as a percentage of expenditures but relatively small on a nominal basis. Partly
