Summary: West Fargo Park District, North Dakota; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA-' rating and stable outlook to West Fargo Park District, N.D.'s series 2020A general obligation (GO) special-assessment prepayment bonds and affirmed its 'AA-' rating, with a stable outlook, on the district's existing GO bonds and non-GO refunding improvement debt. S&P Global Ratings also affirmed its 'A+' rating, with a stable outlook, on the district's lease revenue obligations, issued by West Fargo Park District Building Authority. The series 2020A bonds are secured by unlimited ad valorem property taxes. Management will use series 2020A bond proceeds to refund special assessments owed to the city of West Fargo for savings. Special assessments secure the series 2019A refunding improvement bonds. To the extent assessments are insufficient, state statute requires

...S&P Global Ratings assigned its '##-' rating and stable outlook to West Fargo Park District, N.D.'s series 2020A general obligation (GO) special-assessment prepayment bonds and affirmed its '##-' rating, with a stable outlook, on the district's existing GO bonds and non-GO refunding improvement debt. S&P Global Ratings also affirmed its 'A+' rating, with a stable outlook, on the district's lease revenue obligations, issued by West Fargo Park District Building Authority. The series 2020A bonds are secured by unlimited ad valorem property taxes. Management will use series 2020A bond proceeds to refund special assessments owed to the city of West Fargo for savings. Special assessments secure the series 2019A refunding improvement bonds. To the extent assessments are insufficient, state statute requires the district to levy an unlimited tax on all taxable property within its boundaries to make up for the deficiency. The statute also authorizes the district to levy for debt service whenever...

Summary