https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3225789 CHICAGO (S&P Global Ratings) Aug. 6, 2024--S&P Global Ratings assigned its 'A' underlying rating to Goshen Public Library, Ind.'s $3.99 million 2024 limited-tax general obligation (GO) capital improvement bonds. The outlook is stable. "The rating on Goshen Public Library is supported by a strong economy, a low debt profile, and stable financial operations," said S&P Global Ratings credit analyst Emma Steyaert. While the local economy is stable, the top taxpayers and employers all center around recreational vehicle manufacturing. While the industry experienced a post-COVID growth period, the region's focus on a single industry introduces inherent volatility risk to its economic metrics. Incomes in the area are adequate and the tax base is diverse. The total taxable value has grown in recent years due to commercial and residential expansions. The stable outlook reflects our view that the library will maintain a strong fund balance and stable economic metrics throughout the two-year outlook horizon. We could lower the rating if the library were to report deficit operating results as a result of structural imbalance leading to drawdowns from reserves, or if it experiences a deterioration in economic credit factors. We could raise the rating if the library's economic metrics improve or if reserves increase significantly. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.spglobal.com/ratings for further information. Complete ratings information is available to RatingsDirect subscribers at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.spglobal.com/ratings. _______________________________________________________________________________________________________________ Project consists of replacement of existing major mechanical and electrical systems for the existing 2-story branch library. Most of the work is within mechanical rooms and exterior work to the south of the existing library. Project Location: 601 South 5th Street, Goshen, Indiana 46526. Bid security shall be submitted with each bid in the amount of 5 percent of the bid amount. No bids may be withdrawn for a period of 30 days after opening of bids. Owner reserves the right to reject any and all bids and to waive informalities and irregularities. PID- 21730.001