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Summary: Denver Brd of Wtr Comr, CO; Tax Secured, General Obligation Jun 05
Standard & Poors, June 2005
The 'AA+' rating on Denver City and County, Colo.'s GO bonds, including city GO bonds issued on behalf of the Denver Board of Water Commissioners, reflects: A large and diverse economy, Above-average wealth and income levels, Moderate debt levels, and Maintenance of a large fund balance position, the result of proactive midyear budget-cutting actions (the city has consistently met its commitment to maintain general fund reserves at a minimum of 10% of expenditures). These factors are offset by recent economic softness resulting in several consecutive years of decline in city sales tax collections, partially offset by property tax growth. In addition, prior voter-approved exemptions from the city's TABOR expenditure limit have expired. Due to lack of revenue growth, the city...
Companies mentioned in this report are: Denver Brd of Wtr Comr,Denver City & Cnty
Action: Outlook: Stable
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Denver Brd of Wtr Comr,Denver City & Cnty