Summary: Polk County R-VI School District (Pleasant Hope), Missouri; Appropriations; General Obligation Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Missouri Association of Rural Education's lease refunding certificates of participation (COPs), series 2012, supported by Polk County R-VI School District (Pleasant Hope), reflecting a pledge of semiannual lease rental payments, which are subject to annual appropriation pursuant to the lease agreement and trust indenture securing the COPs. The district has pledged to annually appropriate lease rental payments from any legally available funds before the conclusion of its fiscal year on June 30. There will be no debt service reserve funded for the COPs, but lease payment dates are scheduled to occur three months after the fiscal year-end, providing what we consider ample cushion to accommodate a delayed budget...

Companies mentioned in this report are:
- Polk Cnty R-VI Sch Dist (Pleasant Hope)
- Missouri Assn of Rural Ed

Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Polk Cnty R-VI Sch Dist (Pleasant Hope)
- Missouri Assn of Rural Ed

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