...Sale Information: $40,055,000 Unlimited Tax Refunding Bonds, Series 2016A, via negotiation on Oct. 24. Purpose: To refund a portion of Pearland Independent School District's (ISD) outstanding unlimited tax debt for interest savings. Security: An unlimited ad valorem tax levied on all taxable property within the district. Maturity Date: Feb. 15, 2032. The `AA' Issuer Default Rating (IDR) reflects the district's expanding economic resource base and strong overall financial profile. The district's sound operating profile reflects solid expenditure flexibility, expectations for steady revenue growth, and exceptionally strong gap- closing capacity. Continued increasing enrollment and facility improvements are expected to require additional capital spending in the near term. As a result, the district's long-term liability burden is expected to grow but remain in the moderate range....
