The 'AA+' rating on West Des Moines, Iowa's GO bonds reflects the city's: Full participation in the Des Moines MSA economy; High wealth and income levels; and Strong financial position, which is bolstered by a targeted fund balance policy. High per capita debt burden and debt service carrying charges offset the above strengths. West Des Moines is immediately adjacent to Des Moines ('AA+') and is located primarily in Polk County ('AA+' GO rating). Due to its proximity to Des Moines, the city has experienced considerable population and development growth. The city has been actively annexing land, establishing tax increment districts, and using the revenues to extend infrastructure to spur growth. The annexation of roughly 3,000 acres of land to the
