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

S&P Global Ratings assigned its 'AA-' rating to West Fargo Park District, N.D.'s approximate $1.89 million taxable series 2021A general obligation (GO) park facilities refunding bonds and $6 million series 2021B refunding improvement bonds. At the same time, we affirmed our 'AA-' rating on the district's existing GO bonds and non-GO refunding improvement debt. We also affirmed our 'A+' rating on the district's lease revenue obligations, issued by West Fargo Park District Building Authority. The outlook is stable. The series 2021A bonds are secured by unlimited ad valorem property taxes. Management will use series 2021 bond proceeds to defease the series 2013 lease revenue bonds issued by the West Fargo Park District Building Authority for interest cost savings. Special assessments

...S&P Global Ratings assigned its '##-' rating to West Fargo Park District, N.D.'s approximate $1.89 million taxable series 2021A general obligation (GO) park facilities refunding bonds and $6 million series 2021B refunding improvement bonds. At the same time, we affirmed our '##-' rating on the district's existing GO bonds and non-GO refunding improvement debt. We also affirmed our 'A+' rating on the district's lease revenue obligations, issued by West Fargo Park District Building Authority. The outlook is stable. The series 2021A bonds are secured by unlimited ad valorem property taxes. Management will use series 2021 bond proceeds to defease the series 2013 lease revenue bonds issued by the West Fargo Park District Building Authority for interest cost savings. Special assessments secure the series 2021B 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...

Summary