S&P Global Ratings assigned its 'AA-' rating to West Fargo Park District, N.D.'s $4.4 million series 2022 refunding improvement bonds. At the same time, we affirmed our 'AA-' rating on the district's existing general obligation (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. Special assessments secure the series 2022 refunding improvement bonds and existing refunding improvement debt. 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
