On at least an annual basis, the City issues debt to finance capital projects, including streets, schools, storm-water, water utility, sanitary sewer, and power utility. In connection with the City’s most recent borrowing, the City requested a rating from Standard & Poor’s Rating Service. Standard & Poor’s affirmed a rating of AA to the City’s long term debt and A+ to it’s the newest issue. The Standard & Poor’s rating report indicates the rating reflects the City’s sizable, diverse and affluent tax base, strong financial position, and low debt levels. A copy of the Standard & Poor’s credit report can be reviewed below at the end of part 2.