Standard&Poor's Ratings Services affirmed its 'A' rating, with a stable outlook, on Westfield-Washington Public Library, Ind.'s general obligation (GO) debt. The rating reflects our opinion of the library's creditworthiness, including its: Participation in the Indianapolis metropolitan statistical area (MSA); Very strong income and wealth; and Adequate financial reserves on a cash basis of accounting, further supported by additional liquidity outside the general fund. We believe what we consider the district's moderately high-to-high overall net debt somewhat offsets these strengths. The bonds are payable from ad valorem property taxes levied on all taxable property within the library district. The levy of taxes is mandatory under Indiana law. The bonds are subject to the circuit-breaker legislation, which places various caps
