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Sarasota News Leader December 7, 2012 Page 58 SARASOTA COUNTY BOND RATINGS REAFFIRMED Fitch Ratings, a national bond rating agency, has reaffirmed Sarasota County's AAA implied general obligation debt rating, the county has announced. Fitch said the county's healthy financial position is a result of conservative budgeting practices, strong management and economic recovery efforts, the release adds. "These characteristics, including sizable reserves and "The AAA rating reflects the county's excel- a low debt burden, are part of the rationale lent credit profile and healthy financial posi- behind the AAA for the implied general obligation debt rating," the release says. tion," a news release points out. "This rating is a testament to the commitment and focus we've maintained for several years on sound operating and financial principles," said Chief Financial Officer Steve Botelho in the news release. Additionally, Fitch reaffirmed the AA+ rating on Sarasota County's communications services tax, infrastructure surtax (1-cent sales tax) and 5-cent local fuel tax bonds. The stormwater utility revenue bond's AA- rating also was reaffirmed, the news release points out. FOUNDATION BREAKS GROUND ON CEMETERY'S PATRIOT PLAZA The Patterson Foundation and the U.S. Department of Veterans Affairs – National Cemetery Administration broke ground Dec. 3 on Patriot Plaza, a ceremonial amphitheater at Sarasota National Cemetery. munity and embrace freedom," the release says. "The name, Patriot Plaza, reflects the courage, dedication and values of those who served in our nation's armed forces," said Debra Jacobs, president and CEO of The Patterson Foundation, in the release. "The plaza is intended to honor the service of veterans and our partnership with the National Cemetery Administration will serve as a model for other communities with national cemeteries." The project, which is estimated to cost $8 million, is fully funded by The Patterson Foundation; it represents the first time a private philanthropic entity has partnered with the National Cemetery Administration on a ceremonial enhancement of this scope to a national cemetery, a news release points out. The Patterson Foundation will endow a fund for the maintenance of the plaza. "Patriot Plaza will feature a combination of shade, seats and commissioned art that will Construction is scheduled for completion in honor veterans, inspire patriotism in the com- the spring of 2014, the release notes. % Take Your Time You Have All Week Enjoy The News Leader Anytime - Day or Night