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Fairfax County Economic Development Authority, Virginia Fairfax County; Appropriation, Moral Obligation Jul 04 Product Image

Fairfax County Economic Development Authority, Virginia Fairfax County; Appropriation, Moral Obligation Jul 04

  • Published: July 2004
  • Standard & Poors

Abstract
The 'AA' rating on Fairfax County Economic Development Authority, Va.'s transportation contract revenue bonds reflects: A contractual pledge, detailed in a local contract signed by Fairfax and Loudoun counties, whereby the counties covenant to budget and appropriate from their general funds an amount not exceeding maximum annual debt service (MADS) on the bond; The strong credit quality of Fairfax ('AAA') and Loudoun ('AA+') counties; and The strong essentiality of and political support for the Route 28 project at the local and state levels and the recognized link to continued commercial and industrial investment. While not legally pledged, the intent of the counties is to pay debt service from the special tax revenues, 20 cents per $100 of assessed value, levied...

Companies mentioned in this report are: Fairfax Cnty,Loudoun Cnty,Fairfax Cnty Econ Dev Auth
Action: New Rating

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Fairfax Cnty,Loudoun Cnty,Fairfax Cnty Econ Dev Auth

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