De Kalb Cnty, GA's GO Jail Bnds Rtd AA+ by S&P De Kalb Cnty.NEW YORK--(BUSINESS WIRE)--Aug. 10, 1998--Standard & Poor's CreditWire 8/10/98 - Standard & Poor's today assigned its double-'A'-plus rating to DeKalb County DeKalb County stands for the following Counties in the United States of America:
Additionally, Standard & Poor's affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its double-'A'-plus rating on the county's outstanding G.O. bonds. The outlook is stable. The rating on De Kalb De Kalb may refer to:
-- A diverse local economy, -- A large, steadily growing tax base, -- A sound financial performances and position, and -- A manageable debt burden. De Kalb County is located in northern Georgia adjacent to the economically vibrant Atlanta MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. . The county population is estimated to be 594,000, growing at an average annual rate slightly over 1% per year. The county's economic base is stable and diverse benefiting from Atlanta's presence as an economic hub for the Southeast. The leading taxpayers, making up an unconcentrated 5% of the total tax base, span the employment spectrum and include corporations such as; Georgia Power Georgia Power is an electricity corporation based in Georgia. It is the largest of the four electric utilities that is operated by Southern Company. Georgia Power is an investor-owned, tax-paying public utility that serves more than two million customers in all but four of and Light, General Motors, Southern Bell Telephone, and Hewlett Packard. Retail, health care, and business-related services are the leading employment sectors in the county, followed by trade, light manufacturing, and the public sector. The unemployment rate remains below the national average at 4.3% for the previous 24 months. The county's $32 billion tax base continues to grow at a steady annual rate of approximately 3% since 1994. Much of the growth is attributed to an increasing volume of building permits issued; the value of which exceeded $680 million in 1996 and $800 million in 1997. Wealth and income indicators are slightly above the average for both the state and nation at 120% and 110%, respectively. The county's sound financial performances continued through 1997 as the general fund produced a $15 million surplus prior to transfers. This surplus enhances the county's unreserved position to $25 million, or 20% of expenditures, from its lowest recorded level in recent years of $7.5 million in 1995. County voters approved a 1% homestead option sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. in 1997, the proceeds of which are to be used for capital outlay capital outlay See capital expenditure. purposes and property tax relief for governmental operations beginning in 1999. Debt ratios are manageable at $600 on a per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. basis, and 1% of market value. Debt should remain manageable with no pressing capital needs. There are currently no plans to issue general obligation debt in the near term. OUTLOOK: STABLE The outlook reflects the county's sound financial management, growing economy and tax base, and good overall cash position.---CreditWire
CONTACT: Richard J Marino, New York (1) 212-208-1890
Bernhard H Fischer, New York (1) 212-208-8102
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